Rupee off record low on likely c.bank intervention, Iranian official's comment
Abstract：MUMBAI, April 19 (Reuters) - The Indian rupee recovered after slipping to a record low on Friday, on
MUMBAI, April 19 (Reuters) - The Indian rupee recovered after slipping to a record low on Friday, on likely intervention by the central bank and comments by an Iranian official that there was no missile attack on the country.
The rupee was at 83.5175 to the U.S. dollar at 11:15 a.m. IST, marginally up from 83.5375 on Thursday. The currency had dropped to 83.5750, a lifetime low, in early trading.
The Reserve Bank of India (RBI) likely intervened in the onshore over-the-counter market and in non-deliverable forwards to help out the rupee, traders said.
The RBI \“just completely knocked out\” any thoughts \“of a big push\” higher on USD/INR, a FX trader said.
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