MUMBAI: RBI intervention in the foreign exchange market through a sale of dollars prevented the rupee from weakening below 83.45 on Monday.
Most Asian currencies weakened against the greenback, leading to a gain in the dollar index. The rupee was under pressure due to both escalating tensions in West Asia as well as rising yields in US treasuries. Analysts lowered their forecasts of an early rate cut by the US Federal Reserve, causing higher yields in US govt bonds to attract capital, strengthening the dollar against other currencies.
The rupee ended at 83.45 per dollar compared with 83.41 at close on Friday.
Most Asian currencies weakened against the greenback, leading to a gain in the dollar index. The rupee was under pressure due to both escalating tensions in West Asia as well as rising yields in US treasuries. Analysts lowered their forecasts of an early rate cut by the US Federal Reserve, causing higher yields in US govt bonds to attract capital, strengthening the dollar against other currencies.
The rupee ended at 83.45 per dollar compared with 83.41 at close on Friday.
