Indian Rupee Recovers From Near Record Low Against U.S. Dollar
October 11 2018 - 4:13AM
RTTF2
The Indian rupee bounced back from its early near historic low
against U.S. dollar in evening deals on Thursday, as the latter
fell across the board and the Reserve Bank of India pumped
liquidity into the system by purchasing government bonds.
The RBI today injected Rs 12,000 crore liquidity into the system
through the purchase of government bonds, aiding to stem losses in
Indian currency.
The rupee appreciated to a 2-day high of 73.95 against the
greenback, up by 0.8 percent from a near record low of 74.52 hit in
morning deals. The rupee is seen finding resistance around the
72.00 region.
Meanwhile, Indian shares closed lower, with the benchmark
30-share BSE Sensex dropping 759.74 points or 2.19 percent to
34,001.15, while the broader Nifty index ended the session down
225.45 points or 2.16 percent at 10,234.65.
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