News > Rupee avoids record low despite slew of negative cues

Rupee avoids record low despite slew of negative cues

That the rupee "is holding" in the face of these factors is "obviously down to the belief" that the Reserve Bank of India (RBI) will yet again intervene, a trader at a bank said. The RBI had sold dollars when the rupee dipped to a record low on Thursday. Asian currencies struggled on Friday and risk assets retreated amid hawkish comments from Federal Reserve officials and mounting tensions in the Middle East.