RBI spotted intervening after rupee falls

The Reserve Bank of India (RBI) likely sold dollars through state-owned banks in a bid to prevent sharper falls in the rupee after reports of explosions at the Brussels airport hit global markets, three currency traders said on Tuesday.

The traders added the intervention started when the rupee fell to around 66.83 per dollar levels, down from its 66.5250/66.5350 close on Monday.

The rupee was trading at 66.7450/7525 to the dollar at 0902 GMT.

Explosions tore through the departure hall of Brussels airport on Tuesday morning killing up to 10 people and injuring 30 others, and a second blast struck a metro station in the capital shortly afterwards, the Belgian public broadcaster RTBF said.