Rupee Hits Record Lows: Why RBI’s $1 Billion Daily Intervention Is Failing to Stop the Currency Slide

The Reserve Bank of India’s daily currency market intervention, estimated at about $1 billion, per four bankers, is slowing but not halting the rupee’s slide, with the currency hitting a string of record lows under pressure from high oil prices and surging U.S. Treasury yields.Th

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