Rupee slipped by reaching high of seven months – rupee strengthens to 83 76 but closes at 84 55 after RBI Intervention – Business Standard

Facebook Twitter Linked In Whatsapp Gmail, the rupee had strengthened in the day to 83.76 per dollar against the dollar, which is its seven -month high. But the rupee lost its initial lead by the Reserve Bank of India shopping for dollars. Dealers said the central bank fought $ 3 billion. The rupee has come below the first 84 level after October 17, 2024. However, at the end of the business, it lost all its lead and closed at 84.55 per dollar. The rupee closed at 84.49 on Thursday. A market partner said, ‘Investment flows strengthened the rupee to below 84 in the morning business. But later the pressure on the rupee increased by the RBI intervention of about $ 3 billion in the money market. Meanwhile, the yield of the new 10 -year -old government bond was 6.33 percent. The benchmark 10 -year -old government bond was 6.36 per cent. The rupee has gained 1.26 per cent against the dollar this year, while in the current financial year it has improved by 1.09 per cent so far. Abhishek Goenka, the founder and CEO (India Forex Asset Management) of IFA Global, said, “The flow of foreign institutional investors in the stock market and softening in the dollar index has led to a better rise in the rupee against the dollar in recent times.” Anil Kumar Bhansali, Executive Director and Treasury Head of Finrex Treasury Advisors LLP, said, “The foreign exchange reserves rose nearly $ 2 billion to $ 688.13 billion. The RBI has bought dollars from the money market, which will reach the highest level of 705 billion dollars so far. The market partners said that the central bank could remain in the money market to replenish its reserves. The country’s currency reserves rose $ 1.98 billion to $ 688.13 billion in the week ended April 25. First Published – May 2, 2025 | 11:18 PM Ist Facebook Twitter Linked In Whatsapp Gmail related posts

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