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India's rupee surges following aggressive RBI dollar sales
RBI intervenes with dollar sales, pushing rupee sharply stronger and curbing bearish positions in markets.
The Indian rupee jumped to ~₹87.92 per U.S. dollar after the Reserve Bank of India intervened via state banks to sell dollars and counter bearish speculation. The move marked a shift from prior passive defense to active suppression of negative rupee bets. Traders unwound short positions, adding momentum to the rally. The shift comes amid dovish cues from global central banks, and is seen as a signal that RBI may defend stability more aggressively going forward.