Indian central bank likely sold US Dollars to limit rupee depreciation, traders say

India's central bank likely sold U.S. dollars after the rupee slipped to a fresh record low on Thursday, four traders told Reuters.

The rupee was at 83.4375 against the U.S. dollar as of 11:35 a.m. IST, barely changed from its previous close at 83.4350.

The local unit hit a record low of 45.50 earlier in the session, likely prompting the Reserve Bank of India (RBI) to intervene, traders said.

The rupee's previous record low of 83.45 was hit on March 27.

State-run banks, likely on behalf of the RBI, were seen on offer above 83.45 which helped limit the rupee's losses, a foreign exchange trader at a foreign bank said. (Reporting by Jaspreet Kalra and Nimesh Vora; Editing by Varun H K)