RBI likely sold dollars around 55.50 rupees - dealers

MUMBAI Fri Nov 23, 2012 1:11pm IST

A woman counts her U.S. dollar bills at a money changer in Jakarta June 13, 2012. REUTERS/Beawiharta/Files

A woman counts her U.S. dollar bills at a money changer in Jakarta June 13, 2012.

Credit: Reuters/Beawiharta/Files

Related Topics

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India Economy

REUTERS SHOWCASE

Reliance Projects

Reliance Projects

Exclusive: Reliance plans $13 billion projects including new refinery.  Full Article 

Chopper Deal

Chopper Deal

India nears $2.5 billion deal for Boeing military helicopters.  Full Article 

Coal Scam

Coal Scam

CBI drops coal scam case against Kumar Mangalam Birla.  Full Article 

Low Stocks

Low Stocks

Indian power station coal stocks lowest since 2012 blackouts.  Full Article 

Markets This Month

Markets This Month

Tata Motors, M&M top Sensex gainers  Full Article 

Google Drones

Google Drones

Google is testing unmanned drones to deliver anything from dog food to medicine.  Video 

#RiceBucketChallenge

#RiceBucketChallenge

In India, rice replaces ice in bucket challenge.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage