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:

Diplomacy

Reuters Showcase

Microfinance

Microfinance

Funding the unfunded: India helps small business borrow to grow  Full Article 

Insurance Sector

Insurance Sector

UK healthcare firm Bupa sees strong growth in India  Full Article 

Market Eye

Market Eye

FTSE adds nine Indian firms as large-caps in Asia-Pacific ex-Japan index   Full Article 

China Economy

China Economy

China signals "new normal" with lower annual growth target  Full Article 

E-commerce

E-commerce

China backs e-commerce expansion in win for Alibaba, JD.com  Full Article 

Monsoon Season

Monsoon Season

Exclusive - India expects better monsoon rains this year  Full Article 

'India's Daughter'

'India's Daughter'

Documentary on 2012 Delhi gang rape banned in India  Full Article 

Reuters India Mobile

Reuters India Mobile

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