Whalesbook
The Reserve Bank of India sold a net $7.91 billion in foreign exchange markets during September, significantly increasing its intervention efforts to prevent further depreciation of the Indian Rupee. This follows a net sale of $7.7 billion in August. The Rupee has faced pressure from trade tensions with the United States and rising gold and silver imports, reaching new all-time lows. The RBI's actions in both spot and forward markets aim to curb volatility and support the currency's stability.