RBI likely sold dollars in spot, forward markets
The Reserve Bank of India (RBI) likely sold dollars via state-run banks in both the spot and forward currency markets to prevent the rupee from slipping below 68 to the dollar, four traders told Reuters on Thursday. The partially convertible rupee was trading at 67.33/34 per dollar, recovering sharply from the session low of 67.92, although that is sharply stronger than its previous close of 68.80/81.
