# India cenbank sold net $9.28 bln in spot forex market in October, bulletin shows

> The Reserve Bank of India sold a net $9.28 billion in the spot forex market in October to defend the rupee, according to its bulletin. The rupee depreciated 0.3% against the dollar that month and later hit an all-time low of 85.2075.

- Date: 2024-12-24 · published 2024-12-24T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/27233-india-cenbank-sold-net-9-28-bln-in-spot-forex-market-in-october-bulletin-shows
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Heavy central bank dollar sales show the cost of defending the rupee, and a limit to that defence would push the rupee weaker and raise India's dollar-priced import costs.

## Read by commodity

- USDINR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/india-cenbank-sold-net-928-bln-spot-forex-market-october-bulletin-shows-2024-12-24/

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