India central bank likely selling dollars to cap rupee's decline - traders

MUMBAI: The Reserve Bank of India is likely selling U.S. dollars to prevent further weakness in the Indian rupee, four traders told Reuters.

The rupee was at 83.2350 against the U.S. dollar as of 10:15 a.m. compared with its close at 83.18 in the previous session.

Aided by the central bank, the rupee was faring better than its Asian peers which were down between 0.2% to 0.6%.

The RBI has intervened routinely to prevent the rupee from falling to record low levels. The rupee had hits its lifetime low of 83.29 in October 2022. (Reporting by Jaspreet Kalra; Editing by Nivedita Bhattacharjee)