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RBI intervenes at 71.80 rupees against US dollar, say dealers
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RBI intervenes at 71.80 rupees against US dollar, say dealers
Sep 5, 2018 3:20 AM

The Reserve Bank of India (RBI) likely intervened mildly in the forex markets on Wednesday, two traders told Reuters, as the rupee hit a fresh low in line with other emerging market currencies hurt by dollar strength and simmering trade tensions.

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The RBI is expected to have sold dollars at 71.80 rupees per dollar in the local spot forex market to stem a sharp fall in the Indian currency.

Most Asian currencies were subdued on Wednesday.

First Published:Sept 5, 2018 12:20 PM IST

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