Rupee recovers from record low to end at 60.62 - NDTV

NDTV | Updated On: July 08, 2013 17:00 (IST) The Indian rupee closed off the all-time low of 61.21 it hit earlier in the day. The partially convertible rupee closed at 60.62 against Friday's close of 60.23. The RBI likely sold dollars via state-run banks on Monday afternoon to prevent the rupee from slipping below the 61 per dollar mark, four traders told Reuters, after intervening earlier in the morning as well. "The central bank likely sold dollars starting at around 60.92 levels. Not too sure about the quantum but in this market you hardly need a large quantum," a senior dealer with a private bank said, suggesting volumes are very thin. With inputs from Reuters For Profit Update, via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHN209NyjOR-T6H4jvHB7nlq2IkFQ&url=http://profit.ndtv.com/news/forex/article-rupee-recovers-from-record-low-to-end-at-60-62-324210

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