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Rupee Recovers From 96 as Likely RBI Support Blunts Fed Impact
Vera
By Vera
Markets Editor
The Indian rupee recovered from an early move beyond 96 per dollar to close at 95.93, almost unchanged from Wednesday’s 95.9550 close. Reuters attributed the reversal to likely Reserve Bank of India intervention and inflows tied to a global equity-index rebalancing, while most Asian currencies weakened after the Fed hike. Traders also reported likely RBI sell/buy SwapsDefinition Swaps are contracts or financing arrangements that exchange cash flows or exposures between parties. The exact meaning depends on context: it can refer to interest...Read More, and the Central BankCentral Bank refers to the public monetary authority responsible for managing a currency system and implementing monetary policy. The term belongs in Level 7 because it helps co...Read More’s open-MarketDefinition A market is an environment where buyers and sellers come together to exchange assets, goods, services, or financial instruments. Prices form as buyers and selle...Read More bond sale absorbed cash equivalent to nearly 0.2% of bank deposits. The RBI had not officially confirmed spot-market intervention.
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