The Reserve Bank of India likely sold dollars to support the under-pressure rupee on Tuesday, which was hovering near its all-time low at the open, three traders said.
The rupee was quoted at 96.32 per dollar on Tuesday, off a low of 96.3850 and near its all-time low of 96.3875 reached on Monday.
The RBI has been regularly intervening in the FX market in recent days to support the rupee, which has come under pressure from a pick-up in importer hedging and a persistent mismatch in daily flows, per traders.
(Reporting by Nimesh Vora; Editing by Harikrishnan Nair)
Published on May 19, 2026