Rupee ends flat, in contrast to peers, on likely RBI intervention
The Indian rupee remained almost flat against the dollar, closing at 83.1075, due to dollar-selling intervention by the central bank. Rupee was able to withstand the trend of declining Asian currencies. It is speculated that the Reserve Bank of India carried out transaction in the NDF and OTC markets to curb the rupee’s fall towards its record low last year.
