Diabytes
RBI intervenes via state-run banks to curb rupee's rise, traders say
The Reserve Bank of India has intervened aggressively to curb the rupee`s strength as it struck three-month highs, two traders said on Thursday, estimating that the central bank had bought around $1 billion since Wednesday.
Trending Photos
5- 10
- 10
- 12
 "RBI intervenes via state-run banks to curb rupee's rise, traders say")
New Delhi: The Reserve Bank of India has intervened aggressively to curb the rupee`s strength as it struck three-month highs, two traders said on Thursday, estimating that the central bank had bought around $1 billion since Wednesday.
They said the RBI was spotted buying the greenback via state-run banks at around 66.2150 rupees per dollar on Thursday, a level last seen on Jan. 1.
At 0755 GMT, the rupee stood at 66.2300/2350 to the dollar, compared to 66.37/66.38 per dollar on Wednesday.
The Indian currency has gained as a result of broad inflows into emerging markets after the Federal Reserve signalled it would be more cautious raising interest rates than market participants had earlier thought.
 "DNA: PM Modi watches Surya Tilak of Shri Ram Lalla")
 "DNA: Inside story of 29 Naxalites' encounter")
 "DNA test of 'religious thinking' on UPSC list")
 "DNA: Did cloud seeding drown Dubai?")
 "DNA: Is Israel going to bring a big storm?")
 "DNA: The hidden dangers of protein powders")
 "DNA: Analysis of Mamata Banerjee's riot politics!")
 "DNA: Is Constitution going to be changed?")
 "DNA: Who is killing India's Enemies?")
 "DNA: Why did some Muslim countries appear to help Israel?")
