Traders: India's central bank sells dollars in the forex market to support the rupee.

Traders familiar with the matter said the Reserve Bank of India sold dollars in both onshore and offshore foreign exchange markets to support the local rupee; the people were not authorized to speak publicly and asked not to be identified. The USD/INR exchange rate fell as much as 0.2% to 94.7850; the currency pair has declined about 2% since last week. A spokesperson for the Reserve Bank of India did not immediately respond to an email seeking comment.