 "rupee")
The Reserve Bank of India (RBI) stepped up its intervention in the foreign exchange market on Tuesday as the rupee headed for a new all-time low after a weak opening, though the currency traded in a narrow range ahead of the monetary policy review by the central bank.
The rupee opened at 77.68 to a US dollar compared to the previous close of 77.63, and went on to hit the day’s low of 77.74. According to currency dealers, state-run banks sold dollars on behalf of the RBI at around 77.70 levels. The rupee ended the day at 77.71, down 8
