Rupee averts record low on likely RBI intervention as local equities slide https://t.co/hihlMFjHqO https://t.co/qikrx7vM0b
#CNBCTV18Market | Rupee hits a record low of 83.74/$ against US Dollar https://t.co/vZbCHqV27j
Indian cenbank likely selling dollars to prevent rupee from hitting record low, traders say https://t.co/dSJsuDK5tJ https://t.co/1QIhkqjzGn
The Indian rupee has fallen to a record low of 83.75 against the US dollar, driven by increased demand for dollars from importers. This decline has prompted speculation that the Reserve Bank of India (RBI) is actively selling US dollars to stabilize the currency. Traders have indicated that the central bank has been selling dollars near the 83.75 and 83.74 levels to prevent further depreciation. In addition, the Indian rupee has been identified as the second worst performing Asian currency this quarter. Meanwhile, the Mauritius rupee is experiencing its largest monthly gain against the dollar in over two years due to central bank interventions aimed at lifting it from record lows.
