Rupee holds firm at 94.97 as RBI intervenes with dollar sales
The Indian rupee remained above 95 against the dollar for a second day.
Traders attribute this performance to aggressive dollar sales by the central bank.
The rupee closed at 94.97, showing little movement during trading.
This stability contrasted with a significant slump in equity markets.
State-run banks likely sold dollars to prevent further depreciation past the 95 mark.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on economictimes.indiatimes.com — the content belongs to The Economic Times.
