RBI Sells $11.88 Billion in October to Stem Rupee's Sharp Decline

• RBI net sold $11.88 billion in October, the highest monthly dollar selling since December 2024, to counter rupee depreciation.
• The central bank bought $17.69 billion and sold $29.56 billion in October, indicating significant intervention to support the rupee.
• Rupee fell from 87-88 to over 91 against the dollar in October, driven by foreign investor selling and trade deal delays.
• Depreciation impacted stock markets and raised inflation fears due to rising imported goods prices.
• Experts predict continued pressure on the rupee, which has depreciated 4.7% YTD and 4% annually since 2017, becoming Asia's worst performer.

Why It Matters: RBI aggressively intervened in October, selling $11.88 billion to stabilize the rupee amidst sharp depreciation.