Traders said RBI likely intervened to shore up the rupee at a time when trading liquidity is low, helping the intervention have a magnified impact.
| Photo Credit:
FRANCIS MASCARENHAS
India’s central bank likely sold dollars before the local spot market opened on Friday, four traders told Reuters, helping the rupee hold stronger than the key psychological 96-per-dollar level.
The rupee rose to 95.88 per dollar on the interbank order-matching system, paring its decline from 95.97 in early deals.
Traders said the central bank likely intervened to shore up the rupee at a time when trading liquidity is low, helping the intervention have a magnified impact.
Published on September 25, 2026
