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The Reserve Bank of India was spotted buying dollars via state-run banks starting around 58.99-59.00, three traders said, continuing its heavy intervention to curb strength in the rupee.

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	The Reserve Bank of India was spotted buying dollars via state-run banks starting around 58.99-59.00, three traders said, continuing its heavy intervention to curb strength in the rupee.</div>
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	The rupee was at 59.0400/0500 per dollar by 9:49 am, off its session high of 58.98. The currency closed at 59.17/18 on Friday.</div>
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	The rupee had opened stronger tracking gains in local share markets, which hit record highs for a second straight session on continued hopes of wide-ranging reforms by the new government.</div>

Rupee off session high, RBI buys dollars

The central bank continues heavy intervention to curb strength in the rupee

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