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Trader: The Reserve Bank of India intervened to support the rupee.
Jin10 data, November 3 - According to informed sources, the Reserve Bank of India is intervening in the market by selling US dollars in the domestic currency market to support the rupee. The USD/INR rose by 0.03% on Monday, reaching a high of 88.7988, close to the record high of 88.8050. Informed sources stated that the scale of this intervention is relatively small compared to the large US dollar transactions from last month.