Media ININ Economy We Trust
The Indian rupee fell to above 82 per dollar, a record low, on Friday, after US Federal Reserve officials reiterated the need to raise interest rates, while the Reserve Bank of India is likely to intervene to limit interest rates.
The rupee was trading at 82.32 per dollar by 0436 GMT, compared to its previous close of 81.88 per dollar. The currency fell in the interbank trading system to a low of 82.28 on Thursday due to the massive demand for the dollar.
The Reserve Bank of India is suspected of selling dollars through state-run banks at around 82.30 levels to stem a rapid decline in the currency.
