RBI sees rupee under speculative attack, will intervene: Report
The RBI believes the rupee's recent weakness is driven by speculative attacks from global fund managers and is prepared to defend the currency, Bloomberg reported. It's selling dollars in both onshore and offshore markets to prevent the rupee from breaching its all-time low of ₹88.8 per dollar. The RBI will continue intervening until speculative positions are unwound, the report said.