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The rupee fell to almost 67 a dollar until Reserve Bank of India ( RBI) intervened. Rupee has fallen 5.464 per cent against the US dollar, 4.446 per cent against the Swiss franc, and 2.479 per cent against the pound sterling.
What RBI has done
The Reserve Bank of India (RBI) intervened in the foreign exchange market to recover the depreciation of currency. Under this intervention, there was a large chunk of dollar sales from a company. The RBI’s intervention cooled the market and exporters came forward to sell dollars, resulting in the rupee appreciation.
Impact on India:
Why Rupee is depreciating
By: Vishal ProfileResourcesReport error
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