The Reserve Bank of India (RBI)
| Photo Credit:
KAREN DIAS
The Reserve Bank of India likely intervened to support the rupee on Tuesday, three traders
told Reuters, as the currency fell to a two-week low amid
persistent pressure on account of importer dollar demand.
The rupee touched a low of 88.40, its lowest level
since October 14 before recovering slightly to 88.35 as of 09:10
a.m. IST, down 0.1% on the day.
The currency had slid 0.4% on Monday as a fall below the 88
level prompted traders to cut long wagers on the currency while
lingering pressure from importer hedging demand and portfolio
outflows also weighed.
The dollar index was last flat at 98.7 while Asian
currencies were trading mixed.
Published on October 28, 2025
