The Reserve Bank of India likely sold dollars via state-run banks on Tuesday as the rupee approached a record low against the dollar, tracking falls in global risk assets such as the euro, three dealers said.
The rupee fell to as low as 57.20 to the dollar, not far from the record low of 57.32 hit on Friday, before pulling back to 57.07-57.08 after the intervention from the central bank. The falls in the rupee came after the euro faltered, hitting a two-week low against the safe-haven yen, on receding hopes for any durable solution to the euro zone debt crisis at a European Union summit later this week.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
