Rupee rebounds: RBI support, softer dollar offer relief; currency now 89.96 vs $
N Shorts
Rupee rebounds: RBI support, softer dollar offer relief; currency now 89.96 vs $
The rupee recovered from its record low, closing at 89.96 against the US dollar after a softer dollar index and reported RBI intervention. Despite initial weakness due to foreign selling and trade deal delays, the currency found support. Analysts anticipate continued pressure from outflows but potential cushioning from a subdued dollar and possible RBI actions.
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