The Reserve Bank of India (RBI) likely sold US dollar (USD) from 72.51 to 72.40 in order to prevent early drop in rupee (INR) due to fresh US tariffs on Chinese imports.
At press time, USD/INR is changing hands at 72.46.
The currency pair fell to 71.52 on Friday, having created a bearish outside-day candle a day before, however, the relief was short-lived, courtesy of escalating US-China trade tensions.
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