# India May Buy Dollars for Reserves Should Rupee Gain, Citi Says

> Citigroup's local markets head said the Reserve Bank of India is likely to start buying dollars for reserves once the rupee strengthens to around 88–89 per dollar. Citi expects the rupee to trade in a 90-plus band in the short term.

- Date: 2026-03-01 · published 2026-03-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/20881-india-may-buy-dollars-for-reserves-should-rupee-gain-citi-says
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Reserve accumulation would absorb dollar inflows and limit rupee gains, so the currency is likely to stay weak against the dollar and keep Indian import costs elevated.

## Read by commodity

- USDINR: neutral

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2026-02-24/citi-sees-india-building-reserves-if-rupee-gains-to-88-89-usd

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.