Basically, the RBI is making its presence felt and letting traders know once again that it will not allow one-sided moves,” said one of the state-run bankers who confirmed the intervention.
India raises $73 bn in forex inflows at record pace
India has mobilised $73 billion in foreign exchange inflows in less than 11 weeks, surpassing the scale and pace of the RBI’s 2013 FCNR(B) swap