India cenbank likely sold dollars to keep rupee from reaching 72/dlr - dealers

September 07, 2018 / in.investing.com / Article Link

MUMBAI, Sept 6 (Reuters) - The Reserve Bank of India is supporting the rupee from falling to 72 to the dollar mark, said two dealers on Thursday, citing spurts of dollars sales at the 71.95 level likely by the central bank.

The Indian rupee INR=D2 quickly reversed some of its losses and was trading at 71.86 to the dollar after touching a intraday low of 71.95 in early trade. It had closed at 71.7750 to the dollar on Wednesday.

"There is no supply (of dollars) in the market," a senior forex official at a state-run bank said about the reason for the sharp fall in the Indian currency.

Recent News

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok