US EditionReserve Bank of India sold USD 7.7 billion in August - Here's why
The Reserve Bank of India sold nearly $7.7 billion in August to curb sharp rupee depreciation amid trade tensions and foreign investment outflows, RBI data shows.
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6 Articles
Reserve Bank of India sold USD 7.7 billion in August - Here's why
The Reserve Bank of India (RBI) sold $7.7 billion in August to control the ongoing exchange rate fluctuations and arrest the rupee's fall against the US currency. According to the US dollar sales/purchases data published in the RBI's latest bulletin, the Reserve Bank of India's net US dollar sales in August stood at $7.69 billion, almost three times that of the previous month. According to the data, the central bank did not buy US dollars in Jul…
RBI made record sale of dollars in August to bring stability in Rupee against dollar Business News Hindi (Aaj Samaj), Business Desk: Indian currency Rupee has been continuously weakening against dollar for some time now. Rupee fell by 1.6 percent against US dollar in August. This fall in Rupee has been continuing rapidly since the high tariff imposed by America on India. Although it has also been seen that less fall has been recorded in Indian R…
RBI Sells $7.7 Billion to Support Rupee Amid August Slump
The Reserve Bank of India (RBI) sold a net $7.7 billion in the spot foreign exchange market in August to support the Indian rupee, which fell 0.68% during the month, according to data released on Monday. The central bank did not purchase any dollars in the period, compared with a net sale of $2.54 billion in July, signaling a more aggressive intervention to stabilize the currency. The Indian rupee slipped to 88.1950 against the U.S. dollar in Au…
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