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RBI’s heavy intervention triggers rupee’s biggest single-day gain in seven months

RBI’s heavy intervention triggers rupee’s biggest single-day gain in seven months

RBI’s heavy intervention triggers rupee’s biggest single-day gain in seven months

Heavy intervention by the Reserve Bank of India (RBI) helped the Indian rupee stage its strongest intraday recovery in seven months on Wednesday. RBI intervened aggressively in currency markets on Wednesday, selling dollars to prop up the rupee, bankers said.

At 09:40 am, rupee was trading at 90.0963 against US dollar, as compared to 91.0762 at open.

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