RBI likely intervened in forex market at 53.30 rupees/dlr levels
MUMBAI |
MUMBAI (Reuters) – Reserve Bank of India likely intervened in the foreign exchange market to sell dollars at around 53.30 rupees per dollar levels, four traders said.
RBI likely intervened via state-run banks which were seen heavily selling dollars pushing the rupee up in late trade, they said.
The local unit was under selling pressure on weak equities and dollar demand from oil importers and defence firms for month-end obligations for most of the session, traders said.
The rupee closed at 53.07/08 to the dollar, after touching a low of 53.44 intra day. It was pulled back from 53.30 to 52.98 to the dollar after the suspected dollar selling, traders said.
(Reporting by Archana Narayanan and Shamik Paul; Editing by Subhadip Sircar)
Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/9okxQQnr8nc/india-forex-idINDEE7BR07H20111228
del.icio.us |
Digg
Home
Set as homepage
Add to favorites
Rss
No Comments
Post your comment