RBI sold record $20.2 billion in November to back rupee amid FPI outflows

Quick Summary:

However, by the end of November, the central bank had become a net seller, offloading $20.9 billion.

Market participants attributed the intervention to heavy foreign portfolio investor (FPI) outflows triggered by a surge in US Treasury yields following Republican candidate Donald Trump’s decisive victory in the US presidential election.

In the spot market, the RBI net sold $1.9 billion in November 2023.

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Category: BusinessFinance

Markets: India

Topics: Forex Foreign exchange RBI

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-17 @ 21:18:04 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 492 words

Reading Time: 3 minutes read

Sentences: 20 lines

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Copyright Owner: © Business Standard

News ID: 25223243

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