Mumbai, Sept. 12 :    Mumbai, Sept. 12:  It was the Reserve Bank of India (RBI) again which came to the aid of a distressed rupee today, as the currency plunged to a new intra-day low of 47.50/53 to the dollar in a knee-jerk reaction to the terrorist attacks in the US. The RBI saved the day by indirect intervention through a band of nationalised banks led by the State Bank of India (SBI), which brought the rupee back from the brink. Dollar selling by the banks saw the rupee recover to finish at Rs 47.43/44 per dollar, which, however, is a fresh low for a closing quote. However, apprehensions on the debt markets, regarding a fall in government security prices proved to be unfounded. On the other hand, prices of key gilts recovered substantially from yesterday's lows. 'The money markets were stable today. Probably the stable exchange rate gave it the comfort, indicating that the central bank will not allow markets to go haywire,' commented N. Balasubramanian, general manager, ICICI Ltd. Prices of the benchmark 10-year 2011 11.50 per cent security rallied to close at Rs 115.20, from yesterday's low of Rs 114.90. Debt market circles said call money rates also ruled stable at around 7 per cent. Though early morning trading indicated that the rupee was headed for a major fall, the unprecedented manner in which the RBI rallied around it took the markets by surprise. The Indian currency breached the psychological barrier of 47.50 in the opening bell itself and soon touched the day's low of 47.53 per dollar in early morning deals. However, the situation changed with sellers emerging on the central bank's directions. What followed was a very narrow movement of the rupee for a large part of the day, indicating the intensity of dollar sales by the nationalised banks. 'While there was a constant demand for dollars, the rupee was later trading in a range of 47.42-47.44 per dollar, indicating the selling could have been huge,' an analyst from a foreign bank said. Forex circles contend though corporate buying of dollars is likely to continue, the rupee will hold steady at present levels for some time till the central bank withdraws from the market. Analysts here added the Indian currency is likely to hover around the Rs 47.40-47.50 range. in the days to come. However, it is feared with FII inflows not expected to improve drastically and corporates continuing to bid for dollars, the rupee may face a bearish future in the short-term.