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.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!
