The Reserve Bank of India has been selling dollars to alleviate the depreciation pressure on the rupee due to the surging dollar and foreign portfolio outflows. e central bank sold a net of $19 billion from its reserves in July alone to prevent the rupee from falling much below 80.
US-based funds pulling out money from India at fastest pace since Jan 2022: Report
Over the last five weeks, a total of $575 million have been pulled out of India-dedicated funds, Elara Capital said. Out of the $575 million,