Gold Silver Reports ~ India’s state-owned banks likely sold dollars on behalf of the Reserve Bank of India to prevent the local currency from weakening further, three FX traders told Reuters on Monday.
Rupee
Rupee Around 65 per Dollar, According to Bank of America
Gold Silver Reports ~ Indian central bank Governor Raghuram Rajan oversaw the biggest jump in currency reserves among major developing nations and he’s not afraid to use them to help the rupee.