RBI Sells $6.1B in May to Stabilize Rupee
The RBI again net sold about $6.1 billion in May in the spot forex market to cushion the rupee against volatility from higher oil prices, marking the third straight month of selling and contributing to a FY26 record net sale of roughly $53.1 billion. Despite heavy interventions, the rupee remained broadly stable with some depreciation, while the bank’s forward position also rose as it hedges against further dollar strength.