Rupee dips to new low as RBI steps in to save the day

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Rupee dips to new low as RBI steps in to save the day

On Friday, the rupee hit a new low of 91.99 per dollar, thanks to some serious dollar power and a bit of panic in the markets. The Reserve Bank of India jumped in to save the day by selling dollars, keeping the rupee from crashing through the dreaded 92 mark. While some folks are hopeful for a trade deal with the US, others think the rupee might still take a tumble.