Economic TimesLean R·
Rupee bounce fizzles as RBI intervention thins, arbitrage flows pick up
The Indian rupee reversed early gains on Thursday, succumbing to dollar demand from arbitrage trades as central bank intervention eased. After touching a high of 94.9375, the rupee turned flat, last trading at 95.2775. Traders noted fading dollar offers from state-run banks and triggered stop-losses on rupee bets after it crossed the 95 mark. Asian currencies remained rangebound, with investors awaiting the U.S. non-farm payrolls report for market direction.
Read at Economic Times →
