MUMBAI The Reserve Bank of India likely offered dollars to state-run banks on Friday as the rupee’s losses grew to a record low three traders told Asian Trade.
The rupee last traded in the range of 81.0575 in a U.S. dollar, compared to the previous day’s lowest at 81.2250 and the session’s high of 80.86.
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“The intervention at 81.20 was quite aggressive and possibly puts a floor on the rupee for the time being,” one trader at an institution in the private sector said.
Two traders at a state-run bank said that they were aware that RBI was able to sell dollars.
