# India cenbank intervention in October balloons to a sixth of fx turnover – ThePrint – ReutersFeed

> The RBI bought $36.7 billion and sold $37 billion in spot markets in October, a combined $73.6 billion that is the highest since at least 2012. The central bank's activity accounted for 17% of onshore interbank turnover.

- Date: 2023-12-21 · published 2023-12-21T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/33004-india-cenbank-intervention-in-october-balloons-to-a-sixth-of-fx-turnover
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Heavy central bank intervention has kept rupee volatility unusually low, which lowers hedging costs for Indian feed importers but masks underlying pressure on the currency.

## Read by commodity

- USDINR: neutral

## Sources

- theprint.in: https://theprint.in/economy/india-cenbank-intervention-in-october-balloons-to-a-sixth-of-fx-turnover/1895763/

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