Finance
Mr. BillionhairRBI's Bold Moves: Rupee Rebounds Like a True Champion!
Big news, folks! The RBI is stepping in like a heavyweight champ, saving the rupee from disaster! It hit record lows, but now it’s bouncing back—up 0.7%! State banks are throwing dollars like confetti to keep things stable. It’s a tremendous move, believe me! They’re holding the rupee strong, even with all this trade drama. I told you so!
few days ago | Reuters
Quick rundown
1.The Indian rupee hit record lows for four days straight.
2.The Reserve Bank of India intervened to stabilize the rupee.
3.State-run banks were seen offering dollars aggressively.
4.The rupee rallied 0.7% after the intervention.
5.The US-India trade stalemate is impacting the rupee.
