Reserve Bank of India sells $7 billion to support rupee
The Reserve Bank of India (RBI) intervened in the foreign‑exchange market at the end of July 2026, selling roughly $7 billion of dollars in on‑shore and off‑shore markets. The large direct sale helped lift the Indian rupee to about 95.30–95.74 per U.S. dollar, ending a five‑session rally and moving the currency roughly 1.3 % above its recent record low. The RBI’s action came amid falling global crude‑oil prices, continued foreign‑capital inflows and a stronger greenback that had capped earlier gains. In the same period India’s foreign‑exchange reserves rose by $6.1 billion to $682.35 billion, keeping the total reserve buffer near $689 billion, which the central bank can draw on for further market support.
Entities: Federal Reserve · India · Indian rupee · Indonesian rupiah · Pakistani rupee · Reserve Bank of India · Sanjay Malhotra · State Bank of Pakistan · US dollar · United States Dollar
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] The Pakistani rupee closed at Rs 277.81 per U.S. dollar, extending a 209‑session winning streak. (price movement)
- [● 4 SOURCES] The Indian rupee rose 20 paise to 95.30 per U.S. dollar in early trade on 31 July 2026. (price movement)
- [● 2 SOURCES] The U.S. Federal Reserve kept its policy rate unchanged on 31 July 2026. (policy decision)
- [● 4 SOURCES] The Indian rupee rose for the fifth consecutive trading session. (price trend)
- [● 4 SOURCES] The United States and Iran each fired missiles on 31 July 2026. (geopolitical event)
- [● 2 SOURCES] The Indonesian rupiah strengthened to Rp 18,022 per U.S. dollar, up 89 points, on 31 July 2026. (price movement)
- [● 4 SOURCES] Reserve Bank of India intervention is expected to support the rupee. (policy expectation)
- [○ 1 SOURCE] The Pakistani rupee fell Rs 1.49 against the euro and Rs 1.36 against the British pound on the same day. (price movement)
- [● 4 SOURCES] The Reserve Bank of India sold about $7 billion of dollars in the foreign exchange market in late July 2024. (multiple articles)
- [● 2 SOURCES] The RBI's total foreign exchange reserves are now near $689 billion. (official data)
- [● 2 SOURCES] India's foreign exchange reserves were about $676.2 billion on 17 July 2024, up by more than $9 billion in the preceding three weeks. (multiple articles)
- [● 4 SOURCES] The RBI's $7 billion intervention was one of the largest direct currency defenses in recent months. (official assessment)