Rupee Bounces From Days Low On Rbi Support
Economic Times
The Indian rupee saw a slight recovery on Wednesday, closing at 94.66 against the dollar after touching an intraday low. State-run banks intervened, likely for the RBI, to curb further depreciation
. This weakness stemmed from a strengthening dollar index, fueled by expectations of a US Federal Reserve interest rate hike later this year, pushing the DXY to a 13-month high.
The DXY was at 101.6 on Wednesday, its strongest level in 13 months.
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