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

Post Share

Sources

Showing 1 of 1 sources

bloombergHigh31d 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

Read full article →

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

Sources

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

Related Stories

Russia Escalates Gray Zone Operations Across Europe Amid Rising Tensions

Malaysia Increases Subsidized Fuel Quotas Ahead of Independence Day

Record-Breaking White Falcon Sells for Dh1.5 Million at Abu Dhabi Auction

Vietnamese Coffee Farmers Pivot to Durian Exports for China