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The Economic Times

Markets / The Economic Times

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RBI deploys $12 billion to defend rupee as Iran war jolts markets: Bankers

India's central bank has aggressively defended the rupee, reportedly deploying around $12 billion to counter market turmoil from the escalating Middle East conflict. This intervention, spanning various markets, aims to curb volatility as oil prices surge and foreign investors pull back. Despite the significant outflow, India's substantial foreign exchange reserves provide a strong buffer.

6 Mar 2026 2:29 pm