According to the central bank’s monthly bulletin, the Reserve Bank of India (RBI) net sold $9.71 billion in November compared to $11.88 billion in October amid increased volatility in the Indian rupee.
RBI Forex Operations in November
According to the data, the central bank sold $24.06 billion and bought $14.35 billion.
The Indian rupee’s value in relation to the US dollar stayed between 88.56 and 89.45 in November. Following this, foreign portfolio investors’ (FPI) withdrawals from Indian stocks caused the local currency to significantly decline, reaching a level of 91 against the US dollar in the months that followed.
RBI Intervention to Stabilize the Rupee
Since the local currency reached and surpassed the 91-mark, the central bank has intervened in the spot market to protect it.
The rupee has been reaching consecutive record lows and earlier this week until the central bank took action. The RBI relied significantly on its foreign exchange reserves to stabilize the currency as a result of the persistent decline, which raised worries about imported inflation and general market mood.
💹 RBI Net Forex Intervention
- Month: November 2025
- Net Sale: $9.71 billion
- Gross Sale: $24.06 billion
- Gross Purchase: $14.35 billion
- Purpose: Stabilize Indian rupee amid volatility
- Context: FPI outflows & trade deal delays
The currency has been under pressure over the past few months, particularly as a result of the trade deal’s postponement, which caused it to hit new all-time lows. However, the RBI’s scant assistance was actually making things worse.
The rupee has been trading between 88.20 and 91.74 against the US dollar over the past three months.
Frequently Asked Questions
1. In November, how much did the RBI net sell?
In an attempt to keep the Indian rupee stable in the face of volatility, the Reserve Bank of India (RBI) net sold $9.71 billion in November as opposed to $11.88 billion in October.
2. How much did the RBI buy and sell overall in November?
In order to protect the currency from severe depreciation, the RBI grossly bought $14.35 billion and sold $24.06 billion in November.
3. In November, what was the range of the rupee in relation to the US dollar?
In relation to the US dollar, the Indian rupee fluctuated between ₹88.56 and ₹89.45 in November before further declining to reach about ₹91 in the months that followed.
4. What caused the rupee to depreciate recently?
The rupee was under strain because of:
- Withdrawals from Indian stocks by foreign portfolio investors (FPI).
- Investor sentiment was negatively impacted by the India-EU trade deal’s delays.
- At first, there was little RBI interference, which permitted more severe depreciation.
5. What steps has the RBI taken to keep the currency stable?
Using its foreign exchange reserves, the RBI has been intervening in the spot forex market to protect the rupee and stop additional depreciation that might lead to inflation from imports.
📉 Indian Rupee Volatility
- Three-Month Range: ₹88.20–91.74 vs USD
- Key Drivers: FPI outflows, trade deal delays, limited initial RBI intervention
- Impact: Imported inflation concerns & market sentiment pressure
- RBI Action: Spot market intervention using forex reserves
Conclusion
In recent months, the Indian rupee has been volatile, fluctuating between ₹88.20 and ₹91.74 in relation to the US dollar. The RBI’s November net sale of $9.71 billion shows how proactive it is in keeping the currency stable in the face of trade uncertainty and FPI outflows.
Although these actions offer short-term assistance, the rupee’s trajectory is still influenced by external variables and broader market sentiment, so authorities and investors alike must keep a close eye on it.
Disclaimer: The information provided here is for general informational purposes only and should not be considered as financial, investment, or legal advice. Readers should conduct their own research or consult a professional before making any financial decisions.
