RBI likely sold dollars in NDF to keep rupee stronger than 83/$: Bankers

The Reserve Bank of India has likely been selling dollars in the non-deliverable forward (NDF) market this week to prevent the rupee from weakening past 83 to a dollar, five bankers told Reuters on Friday.

The rupee closed at 82.83 to the dollar after touching a more than one-month low of 82.8975 on Wednesday. The unit, however, has managed to avert a further slide despite a jump in U.S. yields and a broad selloff in Asian currencies.

The central bank’s move to sell dollars in th ..

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