Reserve Bank of India sells $9.8B in March as rupee posts steepest monthly drop since 2019
The Reserve Bank of India sold $9.8 billion in March 2026 as the rupee experienced its steepest monthly decline since 2019. This intervention was prompted by rising oil prices due to the Iran conflict, which led to capital flight from emerging markets. The RBI's actions included a significant increase in forward dollar sales, indicating a proactive approach to stabilize the currency.
- ▪The RBI offloaded a net $9.76 billion in the foreign exchange market during March 2026.
- ▪The rupee tumbled 4% against the US dollar in March, marking its worst performance since 2019.
- ▪India's status as the world's third-largest oil importer makes it vulnerable to rising crude prices, which affect its currency and inflation.
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Reserve Bank of India sells $9.8B in March as rupee posts steepest monthly drop since 2019 The RBI burned through nearly $10 billion in foreign exchange reserves as the Iran conflict sent oil prices surging and capital fleeing emerging markets. Share Add us on Google by Editorial Team May. 22, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); India’s central bank offloaded a net $9.76 billion in the foreign exchange market during…
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