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WSJ:Trader: RBI Selling Dollars 'Aggressively' |
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By CLARE CONNAGHAN
LONDON – The Reserve Bank of India was seen selling dollars "aggressively" Thursday to support the rupee, a person familiar with the situation said.
The Indian currency rose sharply in response to the suspected intervention, pushing the dollar down to 51.52 rupees from around 51.57 rupees.
The rupee was Asia's worst-performing currency in 2011, with the dollar surging to a record high of 54.295 rupees on Dec. 15.
The dollar was trading at 51.83 against the rupee late Wednesday in New York.
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