💨 Abstract

The Indian central bank, Reserve Bank of India (RBI), intervened in the foreign exchange markets, selling up to $11 billion over two days to counter bearish bets against the rupee and curb its sharp slide over the past four months. This intervention helped the rupee rebound from an all-time low, with a decline in bearish sentiment indicated by a drop in the 1-month dollar/rupee risk reversal.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖