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RBI sold $6 billion in May to defend oil-hit Indian rupee, data shows
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.
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thehindubusinessline.com
RBI intervenes to support rupee as currency nears record low
RBI intervenes in forex markets to stabilize the rupee as it approaches record lows amid rising crude oil prices.
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newsbytesapp.com
Why RBI has intervened to stabilize Indian rupee
India's central bank intervened in forex markets, selling dollars offshore and onshore, as the rupee approached a record low amid rising crude oil prices.
