RBI intervenes again to support rupee, likely sold around $500 million so far, traders say

Source : REUTERS
Last Updated: Thu, Nov 24, 2016 12:10 hrs
A police officer stands guard in front of the RBI head office in Mumbai

Mumbai: The Reserve Bank of India (RBI) sold around $500 million to support the rupee currency when it fell to around 68.80 per dollar on Thursday morning, traders said.

Two interventions by the central bank in the morning sparked a sharp rebound in the currency from near record lows hit earlier in the day.

The rupee was trading at 68.74/75 per dollar by mid-morning, up from a session low of 68.8375, its weakest since a record low of 68.85 hit in August 2013.

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