RBI Intervention Shields Rupee from Broader Selloff, Dragging Forward Premiums to Multi-Month Lows
The Indian rupee managed to escape a deeper slump against the surging U.S. dollar due to timely dollar-selling interventions by the Reserve Bank of India (RBI). Strong state-run bank interventions kept the domestic currency afloat amid sustained capital outflows from local equities. While this central bank action effectively contained the rupee’s depreciation, it simultaneously triggered…
