MUMBAI: The Reserve Bank of India likely intervened in the foreign exchange market on Friday to limit the rupee's fall as a run-up in oil prices and U.S. bond yields pressured the currency, three FX traders at banks and one at an FX brokerage told Reuters.
The rupee declined as much as 0.4% to 95.7925 before paring losses to be last quoted at 95.71.
