The Reserve Bank of India (RBI) was a net seller of $8.944 billion in the spot foreign exchange market in April, marking the second consecutive month of intervention to support the rupee amid persistent currency pressures.According to the RBI’s monthly bulletin released on Monday, the central bank purchased $16.225 billion and sold $25.169 billion in the spot market during April, resulting in a net sale of $8.944 billion, PTI reported.The intervention follows net sales of $9.758 billion in March.The RBI said the Indian rupee remained under pressure during April and May due to prolonged geopolitical tensions and continued foreign portfolio investor outflows.However, the domestic currency recovered in June on the back of capital flow measures, easing geopolitical tensions and a decline in crude oil prices, according to the bulletin.” The Indian rupee (INR) remained under pressure in April and May amid protracted geopolitical tensions and continued foreign portfolio outflows. However, the currency recovered in June 2026, owing to capital flow measures, easing geopolitical tensions and falling crude oil prices,” the bulletin said.The RBI noted that during the current financial year so far, up to June 19, the rupee appreciated 0.2% against its end-March 2026 level.On Monday, the rupee settled at 94.63 against the US dollar, down 30 paise from its previous close.The domestic currency had ended the last financial year at 94.84 against the US dollar on March 31.
