Reserve Bank of India has used $75-80 billion defending rupee
India's central bank has dipped into its foreign exchange reserves, using about $75 billion to $80 billion this year just to help keep the rupee from sliding. That's about half of what it built up earlier this year.
The move comes as global pressures, like higher oil prices and a recent surge in US Treasury yields, make things tough for the Indian currency.
The goal? Keep inflation in check and make sure broader financial stability.
RBI opens dollar window, raises margins
To ease pressure on the rupee, the RBI set up a special way for oil companies to buy US dollars directly from it, so there's less rush in the open market.
It also made it more expensive for importers to hedge against currency swings by raising cash margin requirements.
Basically, these steps are all about calming down wild moves in the currency and avoiding any big shocks if the rupee drops further.