India’s central bank may have intervened in the foreign-exchange market on Wednesday to support the rupee, four traders said.
According to Jin10, the traders said Asian currencies weakened after Iran said it would not meet with a U.S. envoy, adding pressure on the rupee.
The traders said they observed Indian state-owned banks selling U.S. dollars, which they believed was likely done on behalf of the Reserve Bank of India.
India’s Central Bank May Have Intervened to Support Rupee, Traders Say
2026-07-01 06:38:34
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