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

INDIA
  • 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 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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