# RBI likely sold dollars to prevent rupee from falling below 83 level: traders - The Hindu

> Traders told Reuters that the Reserve Bank of India likely sold dollars via state-run banks to stop the rupee falling below 83 per dollar. The rupee traded at 82.88 after recovering from a low of 82.99 as the dollar index jumped almost 1%.

- Date: 2023-01-03 · published 2023-01-03T12:00:00.000Z
- Category: policy · region India · magnitude low
- Page: https://feedsoft.ai/events/38054-rbi-likely-sold-dollars-to-prevent-rupee-from-falling-below-83-level-traders
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

RBI dollar sales to defend the rupee signal policy intervention that affects the local cost of imports, but the story has limited direct effect on agricultural commodity prices.

## Read by commodity

- USDINR: neutral

## Sources

- thehindu.com: https://www.thehindu.com/business/Economy/indias-rbi-likely-sold-dollars-to-prevent-rupee-from-falling-below-83-level-traders/article66334500.ece

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