Lynch News
Rupee hits 53 versus dollar, sparks suspected RBI action
By Subhadip Sircar
MUMBAI (Reuters) - The rupee dipped below 53 to the dollar on Wednesday, nearly touching a four-month low, as oil importers bought the U.S. currency, but suspected Reserve Bank intervention helped it recoup some losses.
Though the rupee is likely to continue facing strong support at the 53 level in the near-term, traders expect further falls, given India's fiscal and economic
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