Trader: The Reserve Bank of India may sell dollars to support the rupee exchange rate.

Three traders said that the Reserve Bank of India may sell US dollars on Friday due to market concerns that high oil prices may impact India's growth-inflation dynamics, keeping the Indian rupee under pressure. The Indian rupee was quoted at 92.32 rupees per US dollar, down 0.1% intraday, approaching the record low of 92.3575 set in the previous trading day. Despite interventions by the central bank, traders expect the rupee to continue to depreciate as energy price volatility increases and foreign investors continue to withdraw funds from the Indian stock market.