India's central bank intervened in the currency market by selling around 7 billion US dollars to support the rupee and prevent it from weakening to a record low. This marks one of the largest direct exchange rate interventions in several months. Sources said the Reserve Bank of India intervened in both onshore and offshore markets after the rupee weakened close to its all-time low, though it has not officially confirmed the information. The move came after crude oil prices surged, impacting oil-importing countries in Asia including India. Following the intervention on Friday, the central bank continued selling dollars over the next two trading days, helping the rupee recover and move away from its record low. The rupee was last trading at 95.7437 per US dollar, still only about 1.3 percent above its all-time low.