Wire flash
Traders: India's central bank may be selling dollars to stem rupee's fall
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On September 28, financial news outlet Cailianshe reported, citing traders, that the Reserve Bank of India (RBI) may be intervening in the foreign exchange market by selling US dollars. The reported action is aimed at limiting the depreciation of the Indian rupee. The report is based on trader observations and does not confirm official RBI policy. This type of intervention is a common tool used by central banks to manage exchange rate volatility and support their domestic currency.
Source report
September 28 – According to traders, the Reserve Bank of India (RBI) may be actively selling U.S. dollars in the foreign exchange market in an effort to limit the depreciation of the Indian rupee.
Source
财联社Neutral / independent