MUMBAI, Sept 6 (Reuters) - The Reserve Bank of India is supporting the rupee from falling to 72 to the dollar mark, said two dealers on Thursday, citing spurts of dollars sales at the 71.95 level likely by the central bank.
The Indian rupee INR=D2 quickly reversed some of its losses and was trading at 71.86 to the dollar after touching a intraday low of 71.95 in early trade. It had closed at 71.7750 to the dollar on Wednesday.
"There is no supply (of dollars) in the market," a senior forex official at a state-run bank said about the reason for the sharp fall in the Indian currency.