Nearly $1.6 b a day: RBI’s intervention to shield rupee from volatility in FY23

The RBI’s average daily gross interventions in the foreign exchange market in the previous financial year were 85% higher than the previous year as the rupee battled extraordinary global headwinds. The latest data show that on a gross basis, the RBI sold $212.57 billion and bought $187.05 billion in the previous financial year.

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