India's Central Bank Sells $7 Billion to Defend Rupee

India's central bank reportedly sold approximately $7 billion on Friday to defend the rupee against depreciation. Despite $32 billion in forex inflows, the rupee has yet to see a significant boost.

30 Jul, 07:30 — 30 Jul, 07:30

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bloombergHigh19d ago

INR/USD: India Central Bank Sold About $7 Billion to Defend Rupee on Friday

India’s central bank sold about $7 billion to defend the rupee on Friday, in what was one of its largest direct interventions in months, according to people familiar with the matter.

By Pratigya Vajpayee and Bhaskar Dutta

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India's Central Bank Sells $7 Billion to Defend Rupee

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INR/USD: India Central Bank Sold About $7 Billion to Defend Rupee on Friday

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