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RBI likely sold dollars, received forwards to stem rupee s drop

The USD/INR 1-year implied yield slipped to 2.89%, against 2.96% in the previous session.The relative stability in the rupee is thanks to the RBI, traders said.

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Rupee rises 29 paise to close at 81 53 against US dollar on FII buying

In the domestic equity market, the 30-share BSE Sensex jumped 1,276.66 points or 2.25 per cent to close at 58,065.47, and the broader NSE Nifty rose 386.95 points or 2.29 per cent to 17,274.30.

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