ET:Rupee at 2-1/2 month low; RBI intervention watched
MUMBAI: The rupee extended its fall in late trade on Friday to hit its lowest level since early September on the back of sustained dollar demand from oil refiners.
Traders, however, are watchful about any potential central bank intervention after the Reserve Bank of India was suspected to have sold dollars via state-run banks earlier in the day.
At 4:17 p.m. (1047 GMT), the partially convertible rupee was at 55.55/56 per dollar, after falling to as much as 55.56, its weakest since Sept. 7. The pair closed at 55.21/22 on Thursday.
