MUMBAI (Reuters) – The Indian central bank was likely selling dollars on Monday to support the rupee, which was holding just shy of its lifetime low, four traders told Reuters.
The rupee was at 83.9650 to the dollar, within striking distance of the 83.9725 all-time low hit last Wednesday.
In all probability, the Reserve Bank of India is “persistently” on offer (on dollar/rupee) on the inter-bank order matching system, a trader at a private sector bank said.
(Reporting by Nimesh Vora; Editing by Mrigank Dhaniwala)
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