Advertisement

HindustanTimes Sat,30 Aug 2014

RBI said to have intervened as Rs. hits 53 vs $

HT Correspondent, Hindustan Times  Mumbai, May 02, 2012
First Published: 12:26 IST(2/5/2012) | Last Updated: 22:24 IST(2/5/2012)

The Indian rupee dipped below 53 to the dollar to touch a near 4-month low on Wednesday on sustained dollar demand by oil importers but recovered later in the day after reported intervention by the Reserve Bank of India (RBI).

Advertisement

After opening the day at 52.7 against the dollar, the rupee fell to a low of 53.0 to the dollar, a level last seen on January 5, before it pulled back to 52.9. 

The RBI, which intervenes only to prevent sharp volatility, has a policy of not commenting on currency movements or confirming interventions in the foreign exchange market.


Advertisement
more from Business

Sun-Ranbaxy deal: CCI raises concerns about molecules mkt

The Competition Commission, which has put the multi-billion dollar Sun-Ranbaxy deal for public scrutiny, said on Friday the major issue is whether the combination would result in high market concentration of certain molecules.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved