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The Reserve Bank of India sold a record $20.2 billion in the forex market

Kumari Sonali

The Reserve Bank of India sold a record $20.2 billion in the forex market:

The Reserve Bank of India (RBI) sold a record $20.2 billion in the foreign exchange market to stabilize the rupee amid significant foreign portfolio investor (FPI) outflows. This intervention increased the RBI’s net short position in the forward market to $58.9 billion by the end of the month, up from $49.18 billion in October.

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