RBI Is Seen Selling Dollars as USD/INR Holds in the Mid to High 95s

The Reserve Bank of India is likely selling dollars for rupees to support the currency. USD/INR is little changed so far on Friday. That is the investinglive origin, published 21 August 03:47 UTC, as Forex Factory reprints it. This is the Friday rupee note. It is not a recut of Thursday’s 95.62 tape.

There is no live pair number on this page. The range language is the stamp.

The range is mid to high 95. The ATH was above 96.8

USD/INR has traded broadly in the mid to high 95 range in recent sessions, the same page writes, after an all-time high above 96.8 earlier this year. The body also says the pair has more recently traded roughly between 95 and 96. Those are range lines. They are not a Friday print. They are not averaged with Thursday’s 95.62.

The origin says intervention has tended to intensify in the 95.90 to 96 area. That is a zone, not today’s tape.

The RBI is smoothing, not defending a line

The same page says the dollar sales fit a 2026 pattern: step in when the pair approaches record highs, smooth volatility, contain losses. USD/INR is little changed with the reported sales on the tape. The same page writes that means the bank is offsetting fresh depreciation pressure rather than driving an outright reversal.

RBI Governor Sanjay Malhotra said the net short forward-dollar position remains manageable, with more inflows expected from FCNR deposits and foreign-currency borrowing. The FCNR swap facility closed a month early after attracting close to $57 billion.

The rupee, the page writes, has been the weakest major Asian currency for much of 2026 on equity outflows, oil via the Iran conflict, and tariff friction over Russian crude. Friday’s dollar index is the live dollar tape. RBI minutes stay the other live India note.

Live rupee is on prices. The next stamps sit on the economic calendar.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.