RBI Intervenes With $7 Billion to Support Weakening Rupee

WHO:

Bloomberg Markets - Central Bank Governor Sanjay Malhotra

Sportskeeda - India's central bank, the Reserve Bank of India (RBI)

WHAT:

Bloomberg Markets - Banks in India have garnered $32 billion under various measures announced to boost forex inflows.

Sportskeeda - RBI sold $7 billion to defend the rupee as it neared a record low.

Bloomberg Markets - RBI sold about $7 billion to defend the rupee, marking one of its largest direct interventions in months.

WHERE:

Bloomberg Markets - India

WHEN:

Bloomberg Markets - The intervention occurred on Friday.

WHY:

Bloomberg Markets - The measures announced by the central bank aim to enhance foreign exchange inflows into India.

Sportskeeda - The intervention was aimed at preventing the rupee from falling to its all-time low.

HOW:

Bloomberg Markets - The method involved direct dollar sales by the RBI.

(UPDATED July 30, 2026 19:30 UTC)

Central Bank Governor Sanjay Malhotra is set to discuss significant developments in the financial sector during Bloomberg Markets. Banks in India have successfully attracted $32 billion through various measures aimed at boosting foreign exchange inflows. These initiatives, announced by the central bank, are designed to enhance the country's foreign exchange reserves.

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(UPDATED July 30, 2026 18:26 UTC)

India's central bank, the Reserve Bank of India, sold about $7 billion to defend the rupee as it approached a record low, marking one of its largest direct interventions in months. This significant action took place on Friday and was aimed at preventing the rupee from hitting its all-time low. The intervention involved direct dollar sales by the RBI to stabilize the currency.