RBI selling dollars to support rupee amid equity outflows: Report

RBI selling dollars to support rupee amid equity outflows: Report

The Reserve Bank of India (RBI) is selling US dollars to support the rupee as persistent outflows from stock markets continue to pressure the Indian currency, Reuters reported. Few state-run banks were spotted selling the dollars on behalf of RBI, the report added. Notably, the Indian currency plunged to an all-time low of 84.11 against US dollar on Monday.