RBI's Dollar Bonanza: A Record $18.65 Billion in July!

In July, the Reserve Bank of India went on a dollar shopping spree, snagging a record-breaking $18.65 billion! This was a massive leap from June's paltry $561 million. Thanks to some clever swap deals, banks funneled those dollars back to the RBI. With the rupee taking a slight dip, this buying bonanza boosted India's foreign reserves to a cozy $692.87 billion!