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Rupee falls to 83.2850/USD, lowest in one year
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rupee fell to 83.2850 against the U.S. dollar on Wednesday, its weakest level in a year, pressured by a drop in most Asian currencies.
But likely intervention from the Reserve Bank of India (RBI) capped further losses, traders said.
The RBI likely sold U.S. dollars near 83.28 levels but the intervention was not aggressive, a foreign exchange trader at a private bank said.
The RBI has routinely intervened to prevent the rupee from breaching its lifetime low of 83.29.
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