Rupee closes at 96.73 per dollar after central bank intervention

The rupee rose slightly after India’s central bank sold dollars to support it.

It closed at 96.73 per US dollar, compared with 96.79 the day before.

Demand for dollars continued, and India’s foreign exchange reserves have fallen by $46 billion since September 11.

This shows the central bank is supporting the rupee while pressure on the currency persists.