Rupee bounces back from 15-month low of 68.11 a dollar on RBI intervention

The rupee had hit 68.1325 a dollar in morning trade, but persistent dollar selling by nationalised banks strengthened it to a more comfortable level

The rupee recovered smartly on Wednesday from the 15-month low reached a day before, as the Reserve Bank of India (RBI) stepped in with heavy dollar sales.

Besides, trade data for April, released after market hours on Tuesday, showed that non-oil imports fell and exports made a robust recovery, despite rising global crude oil prices.

At 1 pm, the rupee was trading at 67.84 a dollar, down from its previous close of 68.11, a level last seen in January 2017. Bond yields, though, remained stable at 7.89 per cent, compared with the previous close of 7.90 per cent.

Currency dealers