India Central Bank Defends Rupee with $7 Billion Intervention
India's central bank conducted a significant intervention in the foreign exchange market on Friday, selling approximately $7 billion to support the rupee against depreciation. This intervention represents one of the largest direct actions by the central bank in several months, indicating growing pressure on the currency.
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INR/USD: India Central Bank Sold About $7 Billion to Defend Rupee on Friday
India's central bank conducted a significant intervention in the foreign exchange market on Friday, selling approximately $7 billion to support the rupee against depreciation. This intervention represents one of the largest direct actions by the central bank in several months, indicating growing pressure on the currency.
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