The central bank ramped up its interventions after the rupee weakened to a record low on May 20 (June 8): The Reserve Bank of India’s use of a key tool for defending the rupee has passed the US$110 billion (RM448.21 billion) mark in recent weeks to a new record, according to people familiar with th»»»

The Reserve Bank of India has reached a record $110-$115 billion in its net-short dollar book, a key tool for defending the rupee. This significant increase in forward dollar sales, particularly in offshore markets, aims to curb excessive volatility driven by factors like oil price shocks and specu»»»