Rupee holds steady at 95.44 amidst RBI intervention
· economictimes.indiatimes.com
The Indian rupee remained stable on Thursday, closing near its previous level. Dollar sales by the Reserve Bank of India kept the local unit within a tight range. Demand from maturing forwards and debt outflows added pressure to the currency. Traders observed a narrow trading band, anticipating further Reserve Bank of India intervention. One-month implied volatility fell to its lowest point since early March.
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