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Rupee bounce fizzles as RBI intervention thins, arbitrage flows pick up
The Indian rupee reversed early gains on Thursday, succumbing to dollar demand from arbitrage trades as central bank intervention eased. After touching a high of 94.9375, the rupee turned flat, last trading at 95.2775. Traders noted fading dollar offers from state-run banks and triggered stop-losses on rupee bets after it crossed the 95 mark. Asian currencies remained rangebound, with investors awaiting the U.S. non-farm payrolls report for market direction.
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economictimes.indiatimes.com
Rupee bounce fizzles as RBI intervention thins, arbitrage flows pick up
The Indian rupee reversed early gains on Thursday, succumbing to dollar demand from arbitrage trades as central bank intervention eased. After touching a high of 94.9375, the…
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Merchant, arbitrage flows extend rupee's losing streak even as dollar slumps
The Indian rupee weakened for the fourth straight session against the dollar on Thursday, despite a weaker dollar and likely central bank intervention. Market flows for arbitrage…
