The Reserve Bank of India likely intervened to support the rupee on Wednesday as the currency hovered near its all-time low ...

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The cash injection has also led to a decline in the weighted average call rate, which represents banks’ overnight borrowing costs.

The auction was seen as a good opportunity to sell old 10-year bonds and 14-year bonds, which were part of banks’ held to maturity (HTM) book at a profit, said traders.

Virmani said the RBI's stated policy is that it does not target a specific exchange rate but intervenes in the market to ...