RBA seen buying Australian dlrs vs US in Europe trade

LONDON, Oct 27 (Reuters) - The Reserve Bank of Australia is said to be buying Australian dollars versus the U.S. dollar in Europe on Monday, dealers said.

Dealers said they had been buying at around the $0.6060 level and bidding at around $0.5000/5500 AUD=.

"They were buying Aussie, selling dollar at around $0.6060," one London-based foreign exchange dealer said.

The RBA confirmed it had intervened in foreign exchange markets on Friday and in Asian trade earlier in the global session to stabilise the flagging Australian currency.

The last time the central bank intervened to shore up the currency was in August 2007, when the U.S. subprime mortgage meltdown first set the global credit crisis in motion.

The currency, known as the Aussie, has fallen about 45 percent against the Japanese currency and 38 percent against the U.S. dollar since peaking three months ago.

(Reporting by Ian Chua and Veronica Brown; Editing by Nick Edwards)