RBI likely sold dollars via state-run banks, dealers say

The RBI likely sold dollars via state-run banks from 61.85 rupee levels, three traders said after the currency touched to all time lows of 62/USD on Friday.

August 16, 2013 / 17:12 IST

The Reserve Bank (RBI) likely sold dollars via state-run banks from 61.85 rupee levels, three traders said, propping the local currency battered on Friday after policy makers efforts to defend the rupee have fallen short and as local stocks slumped.

Also read: Rupee at 62 against dollar: Why RBI measures aren't working

The rupee was last changing hands at 61.68/69 to the dollar after hitting a record low of 62.03 earlier in the session. It had closed at 61.43/44 per USD on Wednesday.

first published: Aug 16, 2013 05:12 pm

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