Indian central bank likely intervenes to support rupee, traders say
MUMBAI: The Reserve Bank of India likely intervened in the foreign exchange market on Wednesday, three traders told Reuters, as elevated oil prices and a looming rate hike by the US Federal Reserve pressured the currency. The rupee was at 95.8725 per dollar, up 0.1% on the day after hitting its weakest level in more than one month in the previous session. State-run banks were spotted offering…
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