Press Esc to close
Monday 15 February 2016
News updated at 1:58 AM IST
Weather
Max: 32°C
Min : 17°C
In Bengaluru
Sunny day

RBI likely sold dollars after rupee hits record low - dealers

Mumbai June 20, 2013 reuters
Reuters Image

The Reserve Bank of India (RBI) likely sold dollars via state-run banks after the rupee slid to a record low on Thursday, several dealers said, as fears of foreign outflows from India are roiling domestic bond and stock markets.

The intervention was spotted when the rupee hit 59.90 to the dollar or below, these traders said. The rupee fell after the Federal Reserve signalled an end to its monetary stimulus and after China turned the screw on credit even as factory activity in the world's second largest economy hit a nine-month low.

The rupee's recovery was also helped by expectations the government may take steps to arrest the slide. India's chief economic adviser is scheduled to brief reporters at 11.15 a.m.

The rupee was at 59.63/64 to the dollar at 10.40 a.m., after earlier falling to a record low of 59.9350. The currency closed at 58.71/72 on Wednesday.


Go to Top

Photo Gallery
Protest against the celeberation of Valentine's day in Kolkata on Sunday...

Protest against the celeberation of Valentine's day in Kolkata on Sunday...

Brides and grooms at a mass marriage function in Kolkata on the ocassion of Valentines day...

Brides and grooms at a mass marriage function in Kolkata on the ocassion of Valentines day...

A couple enjoys a boat ride to celebrate Valentineís Day at River Ganga in Kolkata...

A couple enjoys a boat ride to celebrate Valentineís Day at River Ganga in Kolkata...

Visitors at the 'Make in India' exhibhition in Mumbai on Sunday...

Visitors at the 'Make in India' exhibhition in Mumbai on Sunday...

An Australian woman being greeted with red roses by Kannada activist Vatal Nagaraj to celebrate...

An Australian woman being greeted with red roses by Kannada activist Vatal Nagaraj to celebrate...

Yem Kumari Ghale, Himal Tamata ,Roza KC and Rudra Katuwal of Nepal celebrate after winning silver...

Yem Kumari Ghale, Himal Tamata ,Roza KC and Rudra Katuwal of Nepal celebrate after winning silver...

Nepalís and Bangaladesh Women's Handball Team players in action during their match at 12th South...

Nepalís and Bangaladesh Women's Handball Team players in action during their match at 12th South...

Players of India (Orange) and Nepal in action during women's first semi-final Kabaddi match on the..

Players of India (Orange) and Nepal in action during women's first semi-final Kabaddi match on the..

Indian women Kabaddi team during the first semi-final Kabaddi match on the...

Indian women Kabaddi team during the first semi-final Kabaddi match on the...

Gold Medal Winner Chain Singh (C) , Silver Medal winner Gagan Narang (L) of India and Bronze Medal..

Gold Medal Winner Chain Singh (C) , Silver Medal winner Gagan Narang (L) of India and Bronze Medal..

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523