Indian central bank likely selling dollars to cap rupee's losses, traders say
The rupee was last quoted at 87.11 per U.S. dollar, down 0.3% on the day. The currency was a tad above the day's low of 87.13 hit in early trading.
Traders pointed to dollar sales from Indian banks, most likely on behalf of the Reserve Bank of India, which helped limit the rupee's losses.
The dollar offers were "not unusually large and intermittent," a trader at a private sector lender said.
The dollar index was down 0.1% while Asian currencies were mostly rangebound.
(This story has been refiled to say dollars, not dollar, in the headline)
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