Rupee off 9-month low on dollar selling by custodian banks

The rupee is trading at 62.0875/0925 vs Wednesday's close of 61.96/97.

 

The Indian unit had earlier fallen to as much as 62.22, the lowest level since Feb 20.

 

It shed losses as custodian banks sold dollars for their foreign fund clients, according to traders.

 

Earlier, traders also spotted central bank selling dollars through state-owned banks to stem a fall in the rupee.

 

The rupee is seen in 61.90/62.20 until close.