India`s RBI receiving Dec forwards, selling spot dollars - traders
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The Reserve Bank of India was suspected of selling dollar and conducting buy/sell swaps as the rupee slipped to a new record low, traders told Reuters.
The rupee was trading at 82.86 per U.S. dollar, against 83.0200 in the previous session. The local unit had reached a record low of 83.2625 earlier in the session.
The December forward premium dropped to 44 paisa from 48 paisa.
The RBI's intervention in recent sessions has been through forward dollar sales rather than spot sales.
The central bank likely does not wants its intervention to impact the rupee's liquidity and may be preserving the spot reserves, analysts have said.
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