MUMBAI (Reuters) – The Indian reserve bank was most likely marketing bucks on Monday to sustain the rupee, investors stated, after the money decreased to its lowest level on issues concerning international profile discharges adhering to weak financial information and a decrease in Asian peers.
The rupee decreased to a document low of 84.5950 per united state buck in very early trading, down 0.1% on the day.
State- run financial institutions were seen offering bucks near the 84.60 degree, probably in support of the Reserve Bank of India, 4 investors informed Reuters.
It’s “quite likely that the RBI will try to hold the line near these levels today but a decline towards 84.70 cannot be ruled out,” an investor at a state-run financial institution stated.
The buck index was up 0.2% at 106.2, while Asian money decreased in between 0.3% and 0.6%.
(Reporting by Jaspreet Kalra, Nimesh Vora; Editing by Savio D’Souza)
