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RBI likely sold dollars around 55.50 rupees - dealers

Source : REUTERS
Last Updated: Fri, Nov 23, 2012 08:12 hrs
A woman counts her U.S. dollar bills at a money changer in Jakarta

The RBI likely sold dollars via state-run lenders as the rupee slid to a more than two-month low below 55.50, four traders said on Friday.

"They seem to have been there in small amounts starting 55.50," the head of forex and debt trading at a private bank said, referring to the Reserve Bank of India.

Two other state-run bank dealers and one foreign bank dealer also confirmed spotting large selling by state-run banks starting at 55.50.

At 1:03 p.m. (0733 GMT), the partially convertible rupee was at 55.34/35 to the dollar, after hitting 55.53, its weakest since September 11.

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  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
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