The Reserve Bank of India likely sold Dollars through state-owned banks to stem the rupee's fall after it plunged to a month low on Thursday, three FX traders told Reuters.
At 9:45 IST, the Indian rupee was trading at 67.0950/1050 to the dollar, a level last seen on Dec. 15.
The Rupee was down tracking dollar strength against most Asian currencies after a rout in oil and commodity prices hit risk sentiment and heightened fears about the global economy.
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