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  Business   Economy  24 Nov 2016  RBI intervenes as rupee falls to near record low

RBI intervenes as rupee falls to near record low

REUTERS
Published : Nov 24, 2016, 12:32 pm IST
Updated : Nov 24, 2016, 12:33 pm IST

The rupee was trading between 68.81 and 68.83 per dollar.

Reserve Bank of India
 Reserve Bank of India

Mumbai: The Reserve Bank of India was spotted intervening in the foreign exchange market after the rupee fell to as low as 68.8350 per dollar on Thursday, on the verge of surpassing its previous record low of 68.85 in August 2013, traders said.

The rupee was trading between 68.81 and 68.83 per dollar, compared with its close of 68.56 on Wednesday.

The rupee has been hit hard this month by a rally in the dollar and outflows from emerging markets, as well as worries about the country's demonetisation drive.

Tags: rbi, reserve bank of india, dollar, rupee dollar exchange
Location: India, Maharashtra, Mumbai (Bombay)