RBI sold $11.9 billion to stabilize rupee in October
after close1 source ↓written by the desknot a recommendation
- which closed
- 88.76/$1
- in late September
- 88.80/$1
- in foreign exchange
- $10 billion
- in November
- 94.42
The RBI net sold $11.87 billion in October to defend the Indian rupee, which closed at 88.76/$1. This intervention aimed to prevent a sharp decline following a record low of 88.80/$1 in late September, costing over $10 billion in foreign exchange reserves. The real effective exchange rate remained stable at 94.42 in November.
Not investment advice. For informational purposes only.