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Rediff News  All News  » Business » RBI likely to sell dollars to help rupee recover

RBI likely to sell dollars to help rupee recover

August 20, 2013 11:51 IST

RBIThe Reserve Bank of India was seen selling dollars via state-run banks, starting at around 63.85 levels, to pull the rupee off record lows,

five dealers told Reuters.

The rupee was last at 63.56/58 to the dollar, off its low of 64.13 seen early in session.

Bond yields also came off with the recovery in the rupee.

The 10-year yield was last at 9.27 per cent, up 4 basis points on the day, tracking the rupee recovery.

It rose to 9.48 per cent in session.

Swati Bhat and Subhadip Sircar in Mumbai
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