The rupee hovered near its all-time closing low on Monday, settling flat against the dollar as the Reserve Bank of India (RBI) intervened in the foreign exchange market through dollar sales, dealers said. The domestic currency closed at 83.97 per dollar, unchanged from the previous Friday's close.
Several factors weighed on the rupee, including outflows from domestic equities, rising crude oil prices, and a strengthening dollar index.
Market participants said that the RBI likely intervened via non-deliverable forwards (NDF), local spot, and currency futures markets to prevent the rupee from breaching the 84 mark against the greenback.
Bu hikaye Business Standard dergisinin October 08, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin October 08, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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