MUMBAI: The Reserve Bank of India’s (RBI) intervention in the foreign exchange market to stabilise the rupee resulted in net sales of $15.2 billion in Dec 2024, latest data released by RBI on Wednesday showed. This was a drop of $5 billion from $20.2 billion in Nov 2024 when the then President-elect Donald Trump stoked…
MUMBAI: The benefits of intervening in the foreign exchange market for emerging market economies like India far outweigh the costs, according to an article published in RBI’s Jan bulletin.The authors highlight that RBI’s interventions, both in the spot and forward markets, have effectively countered the volatility of capital flows. The report finds evidence of “symmetric…
MUMBAI: The rupee closed at a record low of 85.77 against the dollar on Friday, marking its ninth consecutive week of losses. The decline is attributed to the drop in the Chinese yuan, which weakened past the 7.3 mark, as well as the dollar’s rise.The rupee hit its lowest intraday level at 85.80, before settling…
The rupee recovered from its all-time low level and settled for the day with gains of just 3 paise at 84.72 (provisional) against the US dollar in a range-bound trade on Thursday, amid a positive trend in domestic equities. Forex traders said the Indian rupee recovered slightly on strength in the domestic markets and overnight…
