USD v INR, Dec. 17 -- After slipping past the 91 mark against the US dollar in the last trading session, the Indian rupee made a smart comeback on Wednesday, December 17, amid reports that the central bank aggressively sold dollars to support the currency.

The rupee rose as much as 1%, the most since May 23, to 90.0963, according to a Bloomberg report.

"At about 91, the rupee appears overly depreciated. The central bank had stayed relatively light on FX management in December (until now)," VRC Reddy, treasury head at Karur Vysya Bank, told agencies. He said the central bank sold dollars around the 91 level.

The intervention by the Reserve Bank of India (RBI) followed a sharp slide in the Indian rupee to record lows in recent weeks, pro...