How RBI checks rupee’s plunge and why?

Thursday, June 28, 2018

How RBI checks rupee’s plunge and why?

The Reserve Bank of India has turned to futures market to check the rupee’s plunge as the local unit hit all time low at 69.10 a dollar, dealers said. It is said to have sold over $500 dollars in July futures contract, a move that has helped the local unit to erase some of its early losses, they said.