Finance
Mr. BillionhairRBI's October Dollar Sale: A Huge $11.8 Billion Surprise!
Folks, let me tell you! The RBI just made a huge move—$11.8 billion sold in October! The biggest in ten months, folks! Why? To keep that rupee from falling flat on its face! They're handing out dollars like it's Halloween! And guess what? They’ve got a whopping $63.6 billion in contracts! Tremendous strategy, believe me! It’s all about winning, folks!
few days ago | Anjali Kumari
Quick rundown
1.RBI net sold $11.8 billion in October to stabilize the rupee.
2.Rupee's exchange rate was kept from weakening beyond 88.80 per dollar.
3.RBI's forward market short position rose to $63.6 billion by October's end.
4.Real effective exchange rate (REER) of the rupee was stable at 97.51.
5.RBI's actions aim to maintain rupee's competitiveness in global markets.
