22 Hrs
Source:
المشهد العربي
India central bank takes steps to support rupee
The Reserve Bank of India announced exceptional measures to support the rupee, which has fallen to its lowest historic level against the US dollar, in an effort to stabilize the national currency. The measures include direct foreign currency injections into state-owned oil companies, such as Indian Oil, Hindustan Petroleum, and Bharat Petroleum, to meet their daily cash needs and ease pressure on the foreign exchange market, starting from next Monday. The aim of this move is to reduce direct demand in the open market and maintain currency stability amidst increasing volatility.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)