The defense strategy now includes targeting importers and reviewing tools to block speculative bets to counter pressures from high oil prices and foreign outflows. Finance Minister Nirmala Sitharaman said the central bank is not trying to fix the rupee but will continue efforts to curb volatility. These interventions have prompted traders in the bond market to increase bets that the RBI will hike interest rates more quickly.
Tuesday, October 20, 2026
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RBI Spends Half of $140B FX Haul for Strongest Rupee Defense in 10 Years
Global Markets6 days ago
The Reserve Bank of India has aggressively intervened to stop the nation's currency from sliding further against the dollar. Bankers estimate the central bank has spent half of its $140B foreign exchange capital haul to maintain stability, marking the most intensive effort to shield the rupee in more than 10 years. The RBI is currently reinforcing 97 rupees per dollar as the limit of its tolerance for currency weakness.
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