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Indian rupee reclaims lost ground, spurts 36 paise in mid-session

Indian rupee reclaims lost ground, spurts 36 paise in mid-session

Friday, March 13, 2020, 3:52 PM

The Indian rupee staged a recovery in the afternoon session on Friday, trading 36-paise higher against the US-dollar, after the Reserve-Bank stepped in to maintain sufficient liquidity in the panick-stricken currency market. Seeing the heavy-rush for the US-dollar among participants, the RBI announced liquidity measures such as buy-sell swap of USD 2-billion to increase dollar availability with banks and ease pressure on the rupee.
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