RBI sold $38 billion during Jan-Sept to support rupee

Despite dollar selloff, local currency touches all-time low recently

- BENN KOCHUVEEDAN @ Mumbai

THE Reserve Bank has sold a whopping $38 billion during the first nine months of 2025 to defend the rupee, which has lost 4.26% year-to-date and is the worst among its Asian peers.

While the Mint Road sold a record $37.99 billion in the January-September periodthe highest for any nine months since 2022. During the JanuarySeptember 2022 period the RBI had sold as much as $58.255 billion to defend the currency.

On Wednesday, the rupee closed nearly flat, gaining 2 paise to 89.23 to the greenback. On November 21, the rupee sank to a new low of 89.46 on high demand and low support from the RBI after hitting 89.61 and many analysts are expecting the unit to plumb below 90 sooner than later.