RBI sold $8.94 billion in April to defend rupee amid global pressures. Currency hit record low while forex reserves fell to a one-year low.

RBI sold $8.94 billion in April to defend rupee amid global pressures. Currency hit record low while forex reserves fell to a one-year low.

The Reserve Bank of India (RBI) was a net seller of $8.944 billion in the spot foreign exchange market in April, marking the second consecutive month of intervention to support…