(Reporting by Nimesh Vora; Editing by Sherry Jacob-Phillips)
MUMBAI, Feb 27 (Reuters) - The Reserve Bank of India was
likely selling dollars via public sector banks on Monday to
prevent the rupee from falling below 83 to the dollar, four
traders told Reuters.
The rupee was at 82.90 to the dollar, off the day's
high of 82.9475.
"It looks like we have the whole market on one side and the
RBI on the other," a spot trader at a private sector bank said.
"There is no way to deduce how long can this continue."
Due to the likely dollar sales by the RBI, the rupee was
doing well compared with most of its Asian peers. The Korean won
and the Malaysian ringgit were down about 1% each and the Thai
baht slipped 0.5%.
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