Rupee recovers from record lows after RBI intervention

The rupee recovered from record lows set on Thursday morning aided by dollar selling intervention by the Reserve Bank of India but weak macro-economic fundamentals and broad dollar strength are likely to keep up the downward pressure on it."The fall in the rupee was led by higher oil prices and rising trade war tensions between US and China," HDFC Bank analysts wrote in a note."In the near term, the rupee is likely to be under pressure as oil prices continue to remain high, capital outflows from