RBI Unleashes Dollar Power: $8 Billion Intervention Steadies Rupee, Absorbs Excess Cash
India's central bank, the Reserve Bank of India (RBI), took aggressive action last week, selling at least $8 billion in the foreign exchange market to support the Indian Rupee. This significant dollar intervention helped the rupee strengthen to a two-month high against the US dollar, while also soaking up a record amount of excess cash from the country's banking system. The move signals the RBI's firm hand in managing currency volatility and domestic financial stability.













