Business Standard

Forex market intervention aims met with lower fall in reserves: RBI article

The RBI intervenes in the foreign exchange market through sales or purchases of dollars to curb excessive volatility in rupee

foreign exchange
Premium

So far in 2022, the rupee has weakened 6.7 per cent against the US dollar, a lower degree of depreciation than many other emerging market currencies

Bhaskar Dutta Mumbai
The Reserve Bank of India (RBI) has been successful in achieving its foreign exchange market intervention goals with a progressively lower drawdown in its reserves, an article by staff of the central bank said.

This is largely owing to the accumulation and timely use of foreign exchange reserves by the RBI, which has enabled the central bank to successfully intervene in the currency market during successive global high-volatility episodes, the article released in the RBI’s August 2022 Bulletin said.

The RBI intervenes in the foreign exchange market through sales or purchases of dollars to curb excessive volatility in rupee.

The

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 18 2022 | 9:31 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com