Free Trial

USD/INR Holds Close to Day's Highs on Suspected RBI Intervention

  • Spot USD/INR holding close to the session's best levels, although the rally has somewhat stalled. Move higher in the pair coincides with those Reuters headlines suggesting intervention from the RBI via state-run banks - helping explain the small leg higher to 81.8387.
  • Parallel move noted across NDF outrights, helping retain the bounce in the rate off last week's multi-month lows.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.