RBI's Record Forex Intervention in November 2024 to Stabilize the Rupee
| Why in News | Key Points |
|---|---|
| RBI sold a record $20.2 billion in November 2024 to support the rupee amid FPI outflows | - RBI's net selling in the forex market: $20.2 billion (November 2024). |
| - FPI outflows in November 2024: $2.1 billion. | |
| - Rupee depreciation in November: 0.48%. | |
| - US dollar strengthened, influencing global forex markets. | |
| RBI's forward market position | - RBI's forward market deficit in November: $58.9 billion. |
| - Previous month's forward market position (October): $49.18 billion. | |
| Spot Market Activity | - RBI purchased $30.8 billion and sold $51.1 billion in spot market (November 2024). |
| FPI Outflows | - Foreign investors net sold $2.1 billion in Indian equities in November. |
| Global Economic Factors | - Federal Reserve's monetary policy led to a stronger US dollar, affecting emerging market currencies. |
| Comparison with First Half of FY 2024-25 | - First half of FY 2024-25: RBI was a net buyer in the forex market ($8.52 billion). |