The Reserve Bank of India sold $6.1 billion in foreign exchange during May. This intervention occurred as oil prices surged, pushing the rupee to a record low. The central bank also implemented policy measures to encourage dollar inflows into India.
The Reserve Bank of India sold $6.1 billion in foreign exchange during May. This intervention occurred as oil prices surged, pushing the rupee to a record low. The central bank also implemented policy measures to encourage dollar inflows into India.
<iframe src="https://hindustansphere.com/embed/cluster/0fe88f962689e73d13ef69b188b14630b9b66fec" width="100%" height="320" style="border:0;max-width:680px" loading="lazy" title="RBI sold $6 billion in May to defend oil-hit Indian rupee, data shows"></iframe>
