 "RBI intervenes aggressively as rupee rebounds after hitting record lows")
The Indian central bank intervened aggressively on Wednesday to boost a struggling rupee after the currency hit record lows for four consecutive trading sessions, dragged down by portfolio outflows and an ongoing US-India trade stalemate.
The rupee rallied 0.7% to 90.25 in early trading after opening a tad lower on the day at 91.07.
State-run banks were spotted offering dollars aggressively, most likely on behalf of the Reserve Bank of India, three traders told Reuters.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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