RBI sold $20 billion forex in November, ‘room to sell $138 billion more’

In November, the RBI sold $20 billion from its forex reserves to stabilize the rupee. Nomura observes that the central bank has sold $89.4 billion since October 2024, yet India's forex reserves remain adequate with a 236% adequacy ratio as of January 3, 2025. Despite a dip from a peak of 266%, the reserves remain robust.

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