MUMBAI (Reuters) - The RBI likely sold dollars via state-run banks in late trade on Friday to prop up the rupee at around 59.60 levels, four dealers said.
The rupee was last trading at 59.40/41 having hit a session low of 59.88 in the morning season, and has been threatening to wipe out its entire gains since the Reserve Bank of India introduced measures to drain liquidity late on Monday.
The central bank has been spotted intervening during recent sessions, dealers said.
(Reporting by Subhadip Sircar and Swati Bhat; Editing by Rafael Nam)