ET:RBI likely sold dollars via state banks in late trade
MUMBAI: The Reserve Bank of India likely sold dollars via state-run banks starting at around 59.87 levels, four traders told Reuters.
"RBI seems to have sold around 59.85-87 levels from where the recovery started. It has become a pattern now," said a senior dealer with a state-run bank, referring to the central bank's recent trend of selling dollars in late trade.
The rupee closed at 59.76/77 per dollar compared with its close of 59.72/73 on Monday. The unit dropped to a low of 59.87 just before the central bank stepped in.
