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RBI likely selling dollars after rupee weakens

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Reuters MUMBAI

MUMBAI (Reuters) - The Reserve Bank of India (RBI) was spotted selling dollars via state-run banks starting at around 64.70 rupee levels on Monday, three traders told Reuters, after the rupee had weakened through most of the session.

The partially convertible rupee was trading at 64.28/29 per dollar at 1128 GMT, recovering sharply from the day's low of 64.75. The currency closed at 63.20/21 on Friday.

(Reporting by Swati Bhat; Editing by Rafael Nam)

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First Published: Aug 26 2013 | 5:11 PM IST

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