RBI buying dollars via state-run banks amid persistent foreign inflows

India's central bank likely bought U.S. dollars via state-run banks to prevent a significant appreciation in the rupee, four traders said on Monday.
 

The Reserve Bank of India (RBI) purchased dollars at levels between 82.65 and 82.68 amid persistent foreign inflows, the traders said.
 

"The RBI has been pretty active to ensure that the dollar inflows are absorbed and the rupee's rise does not become very dramatic," said a trader with a state-run bank.
 

The Indian rupee was trading at 82.74 against its previous close of 82.7850. The unit had hit an over six-month intraday high of 82.65 earlier on Monday.

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