Breaking news: Rupee defense creates speculative opportunities
Mihai Prelipcean
The volatility of the rupee exposes the currency to short-term speculation, amid repeated interventions by the Reserve Bank of India (RBI) in the exchange rate, interventions reported today by Reuters in the context of capital outflows and geopolitical pressures. According to sources, the rupee closed Thursday at 90.0175 against the dollar, despite direct dollar sales by the RBI. Forward contracts indicated an opening range of 89.90-89.94 for the next session, after the central bank's
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