Mumbai: The Indian rupee fell 18 paise to 86.52 per greenback on Tuesday, its largest single-day fall in two weeks, after the greenback index strengthened after feedback about commerce tariffs from US President Donald Trump. Intervention by the Reserve Financial institution of India helped include extra losses, merchants mentioned
The greenback index strengthened to 107.87 on Tuesday, after it had fallen to 106.96 the day past, damage by the selloff in US expertise shares.
“Public sector banks bought {dollars}, possible on behalf of the RBI, because the rupee hit a low of 86.57/$1. Moreover, ahead premiums on the forex pair additionally got here down after the RBI introduced liquidity measures,” mentioned Anil Bhansali, head of treasury at Finrex Treasury Advisors. The one-year dollar-rupee ahead premiums dropped by 11 bps to 2.17%, based on Reuters.
