The Reserve Bank of India (RBI) reportedly stepped up its defence of the Indian Rupee (INR) on Friday, intervening in spot, forward, and non-deliverable forward markets. This action came as the Rupee threatened to breach its all-time low against the US Dollar, pressured by surging crude oil prices, despite a recent dip in oil to $96.6 per barrel. The currency was shored up by dollar sales and buy/sell swaps, with traders noting stronger intervention than usual. This regional currency defence against the dollar could signal broader dollar strength concerns, potentially influencing international gold prices and the USD/PKR rate in Pakistan.
بحوالہ / Source: www.brecorder.com