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The Economic Times

Business

RBI intervention steadies rupee, governor's rate comment pulls down hedging costs

RBI Reserve Bank of India India Malhotra

The Indian rupee pared early losses to trade little changed on Wednesday, supported by likely central bank intervention, while dollar-rupee forward premiums slumped after the country's central bank chief said talk of rate hikes is "premature."

The rupee was at 94.70 per dollar, barely changed from its close at 94.7350 ‌in the ⁠previous session.

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