Indian cenbank likely selling dollars to keep rupee off record low -traders

The Reserve Bank of India is likely selling dollars via state-run banks to ensure that the rupee does not fall to a record low, four traders told Reuters on Monday. The rupee was at 83.2475 against the U.S. dollar, barely changed from its close at 83.2625 in the previous session, despite the weakness its Asian peers and the jump in oil prices. The RBI is intervening at 83.25 and has been intervening routinely to stem further decline in the rupee, traders said.