Rupee at record low, RBI steps in

Dhaka,  Mon,  05 December 2016
Published : 24 Nov 2016, 15:13:31 | Updated : 24 Nov 2016, 17:57:21

Rupee hits record low of 68.86; RBI intervenes

Rupee at record low, RBI steps in
The Reserve Bank of India (RBI) likely intervened after the rupee hit a record low of 68.86 per dollar on Thursday, pressured by broad strength in the US dollar, capital outflows from emerging markets, and worries about India's demonetisation drive.

The low surpassed the rupee's previous all-time nadir of 68.85 hit in August 2013, when the country was mired in its worst currency crisis in more than two decades.

The intervention from the RBI sparked a slight rebound in the rupee to 68.83, two traders said, according to Reuters.

ZR
ADDRESS
Editor : A.H.M Moazzem Hossain
Published by the Editor for International Publications Limited from Tropicana Tower (4th floor), 45, Topkhana Road, GPO Box : 2526 Dhaka- 1000 and printed by him from City Publishing House Ltd., 1 RK Mission Road, Dhaka-1000.
Telephone : PABX : 9553550 (Hunting), 9513814, 7172017 and 7172012 Fax : 880-2-9567049
Email : editor@thefinancialexpress-bd.com, fexpress68@gmail.com
Copyright © 2016. All rights reserved
Powered by : orangebdlogo
close