Back
India’s central bank reportedly sells about $7 billion to support rupee

India’s central bank reportedly sells about $7 billion to support rupee

The rupee rebounded to about 95.3 per dollar over five sessions as weaker oil, a softer dollar and continued Reserve Bank of India intervention followed heavy reported dollar sales last Friday.

Fact Check
The Yahoo/Bloomberg report ('India's Central Bank Sold $7 Billion in a Day to Stop the Rupee's Slide') confirms the RBI reportedly sold about $7 billion on Friday to defend the rupee. Trading Economics ('Indian Rupee Rises to Over 3-Week High') confirms the second part of the claim: the rupee strengthened to ~95.3/USD in its fifth straight session, aided by a weak dollar, retreating oil prices, and continued RBI intervention. Cryptobriefing adds independent corroboration of the ~$7 billion intervention. All quantitative details in the claim match the sourced reporting. The figure is a reported/attributed estimate (central banks rarely confirm intervention amounts), which the claim appropriately frames as 'reportedly.'
    Reference: 123
Summary

India’s rupee strengthened to around 95.3 per dollar, its highest level in three weeks, after five straight sessions of gains supported by a weaker US dollar, lower oil prices and continued Reserve Bank of India intervention. The RBI reportedly sold about $7 billion last Friday to defend the currency as it neared its May record low of 96.96 per dollar, while Reuters cited two senior bankers estimating the sales at $8 billion to $9 billion. Traders said follow-up dollar sales on Monday and Tuesday helped push the rupee back past 96 per dollar. The currency, which traded at 95.6 on Thursday and has fallen 5.87% against the dollar in 2026, also benefited as Brent crude slipped about 1% to around $88 a barrel, though market participants warned gains could be capped if oil rebounds amid US-Iran tensions.

Terms & Concepts
  • foreign-exchange intervention: Central bank buying or selling of currencies to influence exchange rates or reduce market volatility.
  • foreign-exchange reserves: Assets held by a central bank in foreign currencies that can be used to help stabilize the domestic currency or meet external obligations.
  • Brent crude futures: Contracts tracking a global oil benchmark.