RBI reported to be buying USD to stall the Rupee advance

Bloomberg quotes sources from Mumbai, citing that Reserve Bank of India (RBI) is likely to have bought USD through state-run banks to limit INR gains.

The Indian Rupee (INR) is set to post biggest 3-day gains since early 2015 as USD/INR falls to 65.4150 from 66.80, currently trading around 65.50.