Home / Finance / Analysis / RBI intervenes to claw rupee back from fresh intraday low vs dollar

RBI intervenes to claw rupee back from fresh intraday low vs dollar

Central bank may have sold around $1 billion in Fx market on Thursday

Premium

Photo: Bloomberg

3 min read Last Updated : Oct 20 2022 | 11:55 PM IST

After weakening to a fresh intraday low against the US dollar on Thursday, the rupee recovered smartly to end the day 0.3 per cent stronger versus the greenback after the Reserve Bank of India (RBI) intervened to support the local currency, dealers said.

The rupee closed at 82.76 per dollar on Thursday as against 83.02 per dollar on Wednesday. In the course of trade, the domestic currency weakened to a fresh intraday low of 83.29 per US dollar. Wednesday’s level of 83.02 per dollar was both the previous record closing low as well as intraday low for the rupee.

With the domestic

Topics : Reserve Bank of India Rupee Indian rupee RBI US Dollar forex market Rupee vs dollar Forex Markets Trade War Central bank Central banks

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in