# RBI intervenes to claw rupee back from fresh intraday low vs dollar | Economy & Policy News - Business Standard

> The rupee recovered 0.3% on October 20 to close at 82.76 after hitting a fresh intraday low of 83.29 per dollar. Dealers said the Reserve Bank of India likely sold more than $1 billion in the spot market to support the currency. The central bank stepped up interventions later in the session.

- Date: 2022-10-20 · published 2022-10-20T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/39418-rbi-intervenes-to-claw-rupee-back-from-fresh-intraday-low-vs-dollar-economy-and
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Central bank intervention limits near-term rupee depreciation, which moderates the rise in India's dollar import costs for feed and energy. Traders will watch whether the RBI keeps defending the currency.

## Read by commodity

- USDINR: bearish ▼

## Sources

- business-standard.com: https://www.business-standard.com/article/economy-policy/rbi-interventions-pull-rupee-back-from-new-low-against-us-dollar-122102001017_1.html

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