Rupee plunges to record intraday, closing lows

“Demand from local importers continued to keep the rupee under pressure. There were some inflows, but they were all absorbed by the RBI. The central bank was seen protecting levels of 84.87 to 84.88 but RBI interventions did not change the direction of the pair,” said Anil Bhansali, head of treasury at Finrex Treasury Advisors.

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