Archive · Business Recorder
Indian rupee ends flat as RBI intervention, portfolio flows blunt Fed hike impact
MUMBAI: The Indian rupee ended flat on Thursday, bucking declines in most regional peers, as likely central bank intervention and inflows related to an equity index rebalancing helped cushion the impact from a US interest rate hike. The Indian rupee closed at 95.93 against the dollar, barely changed from Wednesday’s close at 95.9550. While the rupee had slipped past the 96-per-dollar mark in early trading, it recouped losses following market intervention and inflows likely linked to the rebalancing of a global equity index. “Price action signals that the central bank is not comfortable with th...
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