RBI Intervenes as Rupee Falls to Near Record Low
A policeman sitting in front of RBI office/File photo
Mumbai: The Reserve Bank of India (RBI) was spotted intervening in the foreign exchange market after the rupee fell to as low as 68.8350 per dollar on Thursday, on the verge of surpassing its previous record low of 68.85 in August 2013, traders said.
The rupee was trading between 68.81 and 68.83 per dollar, compared with its close of 68.56 on Wednesday.
The rupee has been hit hard this month by a rally in the dollar and outflows from emerging markets, as well as worries about the country's demonetisation drive.
Recommended For You
- Nokia 6, 5, 3, and 3310 Launched at MWC 2017: All You Need to Know
- Priyanka Chopra Slays In This Oscars After Party Ensemble
- Sunny Pawar Is Winning Hollywood One Award Ceremony at a Time
- Nokia 3310 Is Back And The Internet Can't Handle It
- OnePlus 5 to Launch in April: All You Need to Know of the Waterproof Phone