RBI sells $14.9 billion during Jan-May to check excess volatility in rupee
The Reserve Bank of India sold $14.9 billion in foreign exchange between January and May 2026 to stabilize the rupee. The government also reported that public sector banks are actively pursuing recovery from over 15,000 wilful defaulters.
Why it matters
RBI interventions are critical for maintaining currency stability and managing the country's macroeconomic health amid global volatility.
The RBI's foreign exchange intervention during January-May 2026 amounted to a net sale of $14.9 billion to check excess volatility of the rupee, Parliament was informed on Monday (August 3, 2026).
The value of the Indian Rupee (INR) is market-determined, with no target or specific level or band, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.Minister of State for Finance Pankaj Chaudhary
"The Reserve Bank of India (RBI) regularly monitors the foreign exchange market and intervenes in situations of excess volatility. As per the latest data available from the RBI, the RBI's foreign exchange intervention during January-May 2026 amounted to a net sale of $14.9 billion," he said.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in