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

MUMBAI (Reuters) - The 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.

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 on Wednesday. (Reporting by Subhadip Sircar; Editing by Anupama Dwivedi)