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Story summary
- The rupee slipped 0.86% on Friday, reaching 95.4725 per dollar as corporate arbitrage lifted dollar demand.
- The Reserve Bank of India capped banks' net onshore rupee positions at $100 million.
- RBI intervened by selling dollars through state-run banks near the 94.80-95.00 range each day.
- Import-export firms used 4-to-6 paisa spreads on one-month contracts, executing ten trades recently.
- Analysts say the rupee will stay range-bound unless dollar strength eases or demand falls.
