Rupee retreats from six-month high on likely cenbank intervention
The Indian rupee rose to its strongest level in six months on Thursday aided by dollar sales from large foreign banks but likely intervention from the Indian central bank eroded the local unit's early gains.
The local unit rose to an intraday high of 82.7350, its highest since early September, before likely intervention from the Reserve Bank of India (RBI) ate into the currency's gains, four traders said. Pic: Pixabay