MUMBAI, Jan 20 (Reuters) – The RBI (Reserve Bank of India) was likely selling dollars to limit the rupee’s weakness on Tuesday, four traders told Reuters, as the currency remains within touching distance of a fresh record low.
The rupee was last at 90.99 per dollar as of 11:00 a.m. IST, down 0.1% on the day. The currency declined to 91.0525 earlier in the day, threatening to breach its all-time low of 91.0750 hit last month.
Some state-run banks were spotted offering dollars, but the quantity was very limited as has been the trend in the last two days, one of the traders said.
