RBI most likely intervened as rupee neared record low
The rupee was last at 61.12/13, not far from the life low of 61.21 seen on July 8
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<a href="http://www.shutterstock.com/pic-95113372/stock-photo-a-pile-of-notes-and-coins-in-indian-currency.html" target="_blank">Currency</a> image via Shutterstock
The Reserve Bank of India's (RBI) likely sold dollars via state-run banks on Wednesday as the rupee headed towards a record low, three dealers told Reuters.
The RBI likely sold dollars from 61.17 levels, they said. The rupee was last at 61.12/13, not far from the life low of 61.21 seen on July 8.
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First Published: Jul 31 2013 | 9:42 AM IST