RBI likely sold dollars around 55.50 rupees - dealers
MUMBAI (Reuters) - The RBI likely sold dollars via state-run lenders as the rupee slid to a more than two-month low below 55.50, four traders said on Friday.
"They seem to have been there in small amounts starting 55.50," the head of forex and debt trading at a private bank said, referring to the Reserve Bank of India.
Two other state-run bank dealers and one foreign bank dealer also confirmed spotting large selling by state-run banks starting at 55.50.
At 1:03 p.m. (0733 GMT), the partially convertible rupee was at 55.34/35 to the dollar, after hitting 55.53, its weakest since September 11. (Reporting by Swati Bhat; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
- Govt considers ban on e-cigarettes, sale of single smokes
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- PM Modi boots officials out of the first class cabin
- PRECIOUS-Gold, silver tumble to four-year lows as dollar rallies
- FOREX-Dollar boosted by U.S. growth, more hawkish Fed tone
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article