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The Economic Times
The Economic Times
Business

Merchant, arbitrage flows extend rupee's losing streak even as dollar slumps

ING

The Indian rupee declined for the ​fourth consecutive session against the dollar ​on Thursday as market flows related to arbitrage trades and ​merchant payments pinched the currency despite weakness in the dollar and likely market intervention.

The rupee rose to a peak of 94.9375 in early trading, helped by dollar sales from state-run banks, likely ‌on behalf ⁠of the ⁠Reserve Bank of India, but retreated swiftly as dollar demand picked up through the session.

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