Rupee freefall: How the RBI intervened to arrest rupee's fall
How the RBI intervened to arrest rupee’s fall The Rupee lost 0.42 percent to close at 75.06 a dollar Monday versus 74.75 Friday, show Bloomberg data, compiled by ETIG. Synopsis The central bank, according to market sources, net sold an estimated $600 million in the exchange traded futures market to arrest the rupee's free fall against the dollar amid apprehension that a renewed lockdown, triggered by a second wave of Coronavirus may scuttle a nascent economic recovery. MUMBAI: The Reserve Bank of India Monday swung into action after the rupee crossed the psychological mark at 75 for the fir...
Source: indiatimes.com