Saturday, June 22, 2013

RBI, finance ministry comments prop up rupee

.....“The RBI came in strongly to protect the rupee from falling below 60 per dollar yesterday (on Thursday) and that has clearly drawn the line for the market. Also, there have been positive comments from the finance ministry and RBI since morning which has nudged banks to cut their long dollar positions. We expect exporters to also sell dollars at these levels,”..................

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