Market move● Neutral for Bank of India
RBI likely intervenes to support rupee, traders say
The brief
- The RBI reportedly intervened in the foreign exchange market to support the rupee
- Rupee support may ease currency pressure for Indian importers and companies with foreign-currency debt
- PSU banks in focus; Bank of India, PNB, Indian Bank, IOB rally up to 4%
- Q2 Update Impact: Bank of India, PNB Share Price Jumps Up To 4.5%
- Bank of India Q2 Update: Global Business Nears Rs 19 Lakh Crore, Advances Up 20%