Question
How much did the RBI sell in the foreign exchange market
in November 2024 to manage rupee volatility?Solution
The Reserve Bank of India (RBI) sold a record $20.2 billion in the foreign exchange market in November 2024 to stabilize the rupee amid foreign portfolio investor (FPI) outflows and a strong US dollar. This was the highest dollar sale in a single month, surpassing the previous record of $20.1 billion in March 2022.
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