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Reserve Bank of India sells the US dollars circa 72.35, Rupee rebounds

The recent reports crossing the wires, via Reuters, note that the Reserve Bank of India (RBI), the Indian central bank, is reportedly selling the US dollars via the state-run banks for the Indian National Rupee (INR) around 72.35 level.

The USD/INR cross rallied to 72.77 amid aggressive Rupee selling, as the Indian states elections results get underway. With the intervention chatter, the Rupee stemmed its fall and rose to 72.07 per USD, at the press time.

 

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