According to people familiar with the matter, the Bank of India is intervening by selling dollars in the foreign exchange market to support the rupee. USD/INR rose 0.1% to around 89.99, after falling below the much-watched 90 level to a record low. According to traders, the Bank of India sold the dollar in small amounts near the 90.15 level. The above information comes from forex traders who know about transactions but are unwilling to be named due to lack of authorization to comment publicly. The Bank of India did not immediately respond for comment.

According to people familiar with the matter, the Bank of India is intervening by selling dollars in the foreign exchange market to support the rupee. USD/INR rose 0.1% to around 89.99, after falling below the much-watched 90 level to a record low. According to traders, the Bank of India sold the dollar in small amounts near the 90.15 level. The above information comes from forex traders who know about transactions but are unwilling to be named due to lack of authorization to comment publicly. The Bank of India did not immediately respond for comment.