RBI Intervenes to Defend Rupee at Critical 91 Level Amid Market Pressure The Reserve Bank of India is actively selling U.S. dollars in spot and forward markets to prevent the rupee from breaking past 91 per dollar. This aggressive intervention reflects fragile market sentiment driven by elevated oil prices and persistent capital outflows. Analysts warn that heavy reliance on forward contracts may create maturity-related pressure ahead. In corporate news, Panasonic is exiting the U.S. television market, transferring operations to Chinese competitor Skyworth Group, highlighting Beijing's growing dominance in consumer electronics. Separately, Piper Sandler downgraded Beyond, Inc., cutting its price target to eight dollars from ten dollars as the retailer navigates restructuring efforts. Meanwhile, China's government bond yields have hit historic lows, with three-year bonds at 1.
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