RBI Intervenes as USD/INR Near All‑Time High, Rupee Falls to 95.68
· Business · Forex Factory, LiveMint, Reuters
The rupee slipped 7 paise to 95.68 against the U.S. dollar in early trade, bringing the pair close to its all‑time high. The Reserve Bank of India has returned to active foreign‑exchange intervention after a period of restraint. Market analysts noted that the intervention aimed to dampen volatility following the recent surge in the dollar. The report does not specify which instruments or volumes the RBI used in its intervention. The move comes as India’s import costs are sensitive to the currency’s fluctuations. Traders will watch the RBI’s next steps as the rupee remains near its historical peak.
Why it matters
The rupee’s proximity to an all‑time high raises import costs for Indian businesses and consumers, potentially feeding inflation. Market participants and investors will adjust their positions as the RBI’s intervention signals confidence in managing currency volatility.
Read the original report — Forex Factory
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