Reserve Bank of India sells $9.8B in March as rupee posts steepest monthly drop since 2019
The RBI burned through nearly $10 billion in foreign exchange reserves as the Iran conflict sent oil prices surging and capital fleeing emerging markets. India's central bank offloaded a net $9.76 billion in the foreign exchange market during March 2026, its most aggressive intervention in years. The move came as the rupee tumbled 4% against the US dollar in a…
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