# India central bank likely selling dollars to prevent rupee from falling to record low, traders say | Reuters

> India's central bank is likely selling U.S. dollars around 83.22-83.25 per dollar to keep the rupee from sliding toward its record low, according to seven traders. The Reserve Bank of India also reportedly supplied dollars in the non-deliverable forward market before the spot market opened.

- Date: 2023-09-28 · published 2023-09-28T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/34388-india-central-bank-likely-selling-dollars-to-prevent-rupee-from-falling-to
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Central bank dollar sales limit rupee weakness and can cap USD/INR, which affects the cost of imported feed inputs and energy for Indian buyers. The effect on agricultural commodity prices is limited.

## Read by commodity

- USDINR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/india/india-cenbank-likely-selling-dollars-prevent-rupee-falling-record-low-traders-2023-09-28/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.