MUMBAI (Reuters) - The Reserve Bank of India (RBI) likely sold dollars via state-run banks starting at around 66.60 rupee levels, two traders told Reuters on Friday.
The rupee recovered sharply to the day's high of 66.16 per dollar following the intervention and was trading at 66.28/29 at 2:25 pm IST, stronger than its close of 66.55/56 on Thursday. The unit, however, is still on course to post its biggest monthly loss ever.
(Reporting by Swati Bhat; Editing by Sunil Nair)