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India’s RBI intervenes with $3–5B to support rupee
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RBI intervenes with $3–5B in forex markets, causing rupee to strengthen ~1 %.
The Reserve Bank of India is estimated to have sold $3–5 billion in forex markets to stabilize the rupee, marking its biggest intervention in months. The rupee jumped ~1 %, indicating central bank resolve. The move addresses depreciation pressure from capital outflows, tariff risks, and gold demand.