{"id":5311,"date":"2023-09-18T14:19:04","date_gmt":"2023-09-18T14:19:04","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/india-possibly-selling-dollars-to-save-rupee-from-record-fall-daily-times\/"},"modified":"2023-09-18T14:19:04","modified_gmt":"2023-09-18T14:19:04","slug":"india-possibly-selling-dollars-to-save-rupee-from-record-fall-daily-times","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/india-possibly-selling-dollars-to-save-rupee-from-record-fall-daily-times\/","title":{"rendered":"India possibly selling dollars to save rupee from record fall – Daily Times"},"content":{"rendered":"
\n

The Indian central bank is possibly selling dollars via public sector banks, with the Indian rupee (INR) just shy of a record low, six traders told Reuters news agency.<\/p>\n

The Indian rupee was at 83.2025 to the U.S. dollar, down from 83.09 at open and within a whisker of the lifetime low of 83.29.<\/p>\n

\u201cHearing of public sector bank names on the offer (on USD\/INR), which you would have to think is for the RBI (Reserve Bank of India),\u201d a trader at a private sector bank said.<\/p>\n

Two large public sector banks were major dollar sellers, according to traders.<\/p>\n

The RBI has been on offer at \u201cvarious price points\u201d and not holding to any particular price right now, another trader said.<\/p>\n

\u201cWould not be a surprised if rupee saw a new low despite the RBI. The dollar selling is being absorbed without any difficulty,\u201d he said.<\/p>\n

The Reserve Bank of India has regularly intervened to make sure that the rupee does not fall below the 83.29 record low.<\/p>\n

Surging oil prices and the rally on the dollar index suggest the rising risk of a significant decline in the local currency, analysts fear.<\/p>\n

Brent crude has rallied 8.5% this month and surged nearly 26% in the current quarter on worries over supplies.<\/p>\n

Higher oil prices could widen India\u2019s oil trade deficit and impact the overall deficit. India\u2019s trade deficit in August widened to a 10-month high at $24.2 billion.<\/p>\n

\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Indian central bank is possibly selling dollars via public sector banks, with the Indian rupee (INR) just shy of a record low, six traders told Reuters news agency. The Indian rupee was at 83.2025 to the U.S. dollar, down from 83.09 at open and within a whisker of the lifetime low of 83.29. \u201cHearing […]<\/p>\n","protected":false},"author":2,"featured_media":5312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/dailytimes.com.pk\/assets\/uploads\/2023\/09\/18\/JBY37H3GENJKRM56UH5ZOKGNSQ-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-5311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-updates-news"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/5311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=5311"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/5311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/5312"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=5311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=5311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=5311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}