India’s central bank intervenes again to support rupee, traders say

[MUMBAI] The Indian central bank was seen back in the foreign exchange market on Thursday, selling dollars through state-run banks to reinforce support for the rupee, traders said.

The rupee recovered to 89.8550 per US dollar from 89.9775 on back of the intervention. This is the second straight day when the RBI has stepped in with the intent pushing the dollar/rupee pair lower, a trader said. REUTERS