Fears over an ascent in worldwide protectionist measures, alongside a solid US economy, hauled the Indian rupee to a crisp intra—day low of more than 70 against a US dollar amid the pre-evening hours on Tuesday.
Around 11.00 a.m., the rupee dove to 70.08 to the US dollar. In any case, soon a while later the Reserve Bank of India (RBI) is said to have mediated in the open market to control the rupee's free fall.
The intercession supported the rupee settle only a bit underneath 70 to a USD at 69.98 around 11.05 a.m.
Around 11.00 a.m., the rupee dove to 70.08 to the US dollar. In any case, soon a while later the Reserve Bank of India (RBI) is said to have mediated in the open market to control the rupee's free fall.
The intercession supported the rupee settle only a bit underneath 70 to a USD at 69.98 around 11.05 a.m.
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