RBI sold $10.02 billion in the foreign exchange market in December 2023.
GK and monthly revision
RBI net sold $10 billion in December to curb rupee volatility
The Reserve Bank of India (RBI) sold $10.02 billion in the foreign exchange market in December 2023 to curb rupee volatility. This intervention was aimed at stabilizing the Indian rupee, which was the worst-performing emerging market currency in 2023. The RBI's actions reflect its commitment to maintaining currency stability amidst global economic challenges, which is crucial for controlling inflation and ensuring macroeconomic stability. This move is significant for understanding the RBI's role in foreign exchange management and monetary policy for competitive exams.
Revision structure
Monthly events and exam calendar context
Static GK and one-liner notes
Quiz and mock-test revision path
Key points
Exam-ready takeaways
The intervention aimed to curb rupee volatility, which was the worst-performing emerging market currency in 2023.
The data was released on Friday, indicating the central bank's efforts to support the Indian currency.
The sale of foreign exchange is part of the RBI's strategy to maintain currency stability and control inflation.
This action highlights the RBI's role in managing foreign exchange reserves and monetary policy.
How to study
Turn news into exam marks
Revise monthly events by exam family instead of reading random updates.
Pair one-liners with mock tests so mistakes become the next revision list.
Keep state job pages, calendar pages and GK packs connected in one path.