RBI likely buying dollars via state-run banks, traders sayThe rupee was last quoted at 84.4275 per US dollar, little changed on the day, after touching a peak of 83.78 earlier in the session.
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The Reserve Bank of India (RBI) logo.
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Mumbai: The Reserve Bank of India likely stepped in, via state-run banks, to buy dollars on Friday, five traders said, as the rupee rallied to a near six-month high on dollar inflows and cutting of bearish positions on the local currency.
The rupee was last quoted at 84.4275 per US dollar, little changed on the day, after touching a peak of 83.78 earlier in the session.
State-run banks were spotted bidding for dollars but were not active at any specific level, traders said.
The dollar index was down 0.5 per cent at 99.6, while Asian currencies rose between 0.6 per cent and 1.4 per cent.