Market News
India cenbank likely selling dollars to support rupee, traders say - REUTERS
MUMBAI, Nov 29 (Reuters) - India's central bank was likely selling U.S. dollars on Friday to support the rupee near a key psychological support level of 84.50, four traders told Reuters.
The rupee was at 84.49 as of 9:15 a.m. IST, compared to its previous close at 84.4850.
State-run banks were spotted offering dollars near 84.50, levels, most likely on behalf of the Reserve Bank of India, the traders said. The rupee had weakened to its all-time low of 84.5075 last week.
