USDINR rose marginally on Tuesday, interrupting two successive days of decline. The pair is under pressure on speculation that the Reserve Bank of India (RBI) could prepare to intervene. The rupee dropped to record lows of 85.84 on Monday as high domestic demand for the dollar exerted pressure. An official in India’s treasury stated recently that the government was closely monitoring the USDINR pair relative to the available import cover. Therefore, the RBI’s intervention will be linked closely to that […]
The post USDINR Signals Potential Rise to 86.00 Despite RBI Intervention Talk appeared first in UK on InvestingCube.
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