INR vs USD: Why Rupee Fell After RBI Intervention Before April 2 Rebound? – Motilal Oswal Weighs In

Ahead of the rupee surging 1.6% to hit Rs 93.19 against USD after RBI’s intervention, brokerage house Motilal Oswal pointed out at that one point, rupee had already strengthened but quickly reversed hard, Bank Nifty crashed 4%, resulting in Rs 4k crore loses for banking entities.

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