# Turnaround hopes for rupee fade over RBI's stance on forex reserves | Money & Forex Markets - Business Standard

> The Reserve Bank of India signaled it will keep buying dollars, which pushed India's forex reserves to a record $586 billion. RBI Governor Shaktikanta Das said emerging markets need reserve buffers even at the risk of being added to the US currency-manipulation watchlist. Analysts said the intervention could keep the rupee underperforming regional currencies.

- Date: 2021-01-21 · published 2021-01-21T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/49438-turnaround-hopes-for-rupee-fade-over-rbi-s-stance-on-forex-reserves-money-and
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Persistent RBI dollar buying caps rupee appreciation, which keeps Indian feed and oilseed import costs in dollar terms elevated.

## Read by commodity

- USDINR: bullish ▲

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/reserve-bank-s-stance-on-forex-reserves-pips-turnaround-hopes-for-rupee-121012100471_1.html

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