An informed trader said that the Bank of India sold the US dollar in the onshore foreign exchange market to support the local currency. The dollar rose 0.2% against the Indian rupee at one point to 95.3763. High oil prices have put pressure on the rupee in recent days, and the rupee has taken back some of the gains achieved after the Bank of India introduced measures to curb speculation. A Bank of India spokesperson has yet to respond to the comment email.

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