Econintersect: The rupee fell almost to 60 to the dollar on Thursday 20 June 2013. After hitting a low of 59.9350, the rupee rebounded, believed to be aided by intervention by the RBI (Reserve Bank of India) which was rumored to be selling dollars. The latest Friday trade for the rupee was 59.608. Friday has seen a low of 59.503 and a high of 59.778. Numbers obtained at 1:29am EST 21 June 2013.
After the Read more >> break is a Bloomberg interview with Siddhartha Sanyal, Chief Economist for Barclays, Mumbai and formerly an economist with the RBI.
Click on graph for larger image.
Sources:
- RBI likely sold dollars after Indian rupee hits record low vs US dollar: Dealers (Reuters, The Indian Express, 20 June 2013)
