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RBI sold about $7 billion to defend rupee on Friday
India's central bank sold approximately $7 billion to defend the rupee. The Reserve Bank of India intervened across markets as the currency neared a record low. This intervention followed a surge in crude prices impacting Asian oil importers. The RBI's actions helped lift the rupee further away from its all-time low. Foreign exchange reserves are rising, providing ammunition for future currency defense.
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thehindubusinessline.com
RBI intervenes to bolster rupee, traders say
RBI intervenes in forex market, boosting the rupee to its strongest level in two weeks at 95.6425 per dollar.
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economictimes.indiatimes.com
Rupee clings to two-week high as oil slides, intervention helps cement rise
The Indian rupee experienced a significant rebound on Tuesday, intensifying to its strongest position in two weeks. The decline in oil prices and the potential intervention by the…
