Indian central bank likely sold dollars to support rupee before market open
The Indian central bank likely sold dollars Friday to prevent the rupee from falling past the 91 mark. The currency recovered slightly before the market open.
The Indian central bank likely sold U.S. dollars before the local spot FX market (rupee) opened on Feb. 20, an intervention that appears aimed at preventing the rupee from falling past the key 91-per-dollar level in India 
IN. This action, which is currently under discussion among market participants, influenced the rupee's opening level and reduced short-term FX market liquidity.
IN. This action, which is currently under discussion among market participants, influenced the rupee's opening level and reduced short-term FX market liquidity.
