RBI might buy Dollars to limit the influence on Rupee Liquidity
According to the Reuters, the rupee strengthened to a more than five-week high on Monday. Today morning by 9, the convertible value of rupee was 60.25 per dollar which is the strongest since July 31. On Friday evening, the value of rupee per dollar has increased after U.S. monthly jobs data was found weaker than expected.
The Reserve Bank of India might buy dollars through state-run banks to prevent further appreciation in its value. The banks run by States started buying dollars aggressively when the rupee reached its strongest in a five-week period. The RBI wants to control the impact on rupee liquidity and is likely to interfere in the forwards market.
Image by Wolfgang Eckert from Pixabay (Free for commercial use)
You may also like
Image Reference: https://pixabay.com/illustrations/dollar-bank-note-banknote-currency-2931882/
Recent Posts
- Home remedies for tailbone painTailbone pain is very common, especially in adults and teens. It affects women five times more often than men.
- Things to know about the FASTag annual passFASTag Annual Pass is applicable only on National Highways and Expressways.
- Exim Bank Recruitment 2025 for tech professionalsThere are 6 vacancies for officer roles focused on Finacle Core and digital technology.
- Home remedies for tailbone pain
What’s new at WeRIndia.com
News from 700+ sources
-
HC To Decide Plea Of Convict Accused Of Patricide
-
IIT makes learning 1 AI, machine learning course for UG, PG students mandatory
-
Former Haryana Minister flags illegal sand mining in Yamuna, urges NGT to act
-
The Lizzo Treachery?
-
Metro 2B Report Submitted to Centre for Aid
-
Aditi Ashok misses cut in tough conditions at KPMG PGA Champs
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply