India cbank intervenes via state-run banks to curb rupee's rise

March 31, 2016 8:02 AM

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NEW DELHI, March 31 The Reserve Bank of India has intervened aggressively to curb the rupee's strength as it struck three-month highs, two traders said on Thursday, estimating that the central bank had bought around $1 billion since Wednesday.

They said the RBI was spotted buying the greenback via state-run banks at around 66.2150 rupees per dollar on Thursday, a level last seen on Jan. 1.

Also read: India cenbank relaxes cash balance requirements for lenders

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