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    HomeNewsBusinessMarketsRBI sells dollars via state-run banks, helps rupee recover

    RBI sells dollars via state-run banks, helps rupee recover

    The Reserve Bank of India likely sold dollars starting at around 68.70 rupee levels to help bring down the rupee to below 68.

    August 28, 2013 / 14:18 IST

    The Reserve Bank of India likely sold dollars starting at around 68.70 rupee levels to help bring down the rupee to below 68, five traders told Reuters.


    The partially convertible rupee recovered to as much as 67.90/91 per dollar, after hitting a record low of 68.75. It was still way below its Tuesday's close of 66.24/25.


    Get latest updates on dollar-rupee movement here


    Two traders said the intervention was "aggressive", while others said the sharp down move seen was more due to illiquid conditions rather than heavy dollar selling by the central bank.

    Also Read: Rise in crude, rupee fall will lead to Rs 12800cr loss: IOC

    first published: Aug 28, 2013 02:18 pm

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