MUMBAI, Dec 17 (Reuters) – The Indian central bank intervened aggressively on Wednesday to boost a struggling rupee after the currency hit record lows for four consecutive trading sessions, dragged down by portfolio outflows and an ongoing U.S.-India trade stalemate.
The rupee rallied 0.7% to 90.25 in early trading after opening a tad lower on the day at 91.07.
State-run banks were spotted offering dollars aggressively, most likely on behalf of the Reserve Bank of India, three traders told Reuters.
(Reporting by Jaspreet Kalra; Editing by Sonia Cheema)
