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MUMBAI: RBI stepped up dollar income successful FY26 to negociate speech complaint volatility. The cardinal slope recorded a full nett merchantability of $53.1 cardinal implicit the people of the fiscal twelvemonth an summation of $12 cardinal compared to nett income of $41.1 cardinal successful FY25.
Despite impermanent periods of dollar accumulation, the cardinal slope maintained a decisive stance arsenic a nett seller of overseas currency crossed some fiscal years.Given that the dollars were purchased erstwhile the rupee was stronger, bankers estimation RBI to person made astatine slightest 10% nett connected its sales. In different words, astir Rs 50,000 crore of its income could person travel from forex involution successful FY26. The interaction of dollar income connected RBI's reserves has been partially cushioned by the summation successful the worth of gold.
The closing months of FY26 highlighted this assertive tactical maneuvering. In March 2026, the RBI heavy liquidated greenbacks, executing a nett merchantability of $9.8 billion. This marked a swift, implicit reversal from Feb 2026, erstwhile the cardinal slope had actively absorbed dollars with a nett acquisition of $7.4 billion.An investigation of monthly peaks implicit the two-year skyline shows that the implicit highest measurement of nett dollar income occurred successful Nov 2024 (FY25), erstwhile the cardinal slope flooded the marketplace with a monolithic nett merchantability of $20.2 billion.
In comparison, the highest selling period for FY26 was Oct 2025, which saw a nett liquidation of $11.9 billion.Conversely, RBI demonstrated its strongest appetite for dollar accumulation successful March 2025 (FY25), wrapping up that fiscal twelvemonth with an awesome nett acquisition of $14.7 billion. This remains the highest measurement of nett purchases crossed the full two-year duration, comfortably eclipsing FY26's highest accumulation period of Feb 2026, wherever nett purchases stood astatine $7.4 billion.Re rises connected RBI interventionThe rupee roseate for the 2nd consecutive league connected Friday, gaining 51 paise to adjacent astatine 95.69, and with Thursday's 62 paise appreciation has erased astir of its losses from earlier this week. The currency strengthened contempt firming planetary lipid prices, with crude swinging higher arsenic stop-start US-Iran bid talks continued to seesaw and dragged marketplace sentiment with each shift. Support came from RBI involution and announcement of a $5 cardinal swap, which is expected to adhd to the cardinal bank's forex reserves successful the mean term.Forex reserves autumn $8.1bnMeanwhile, forex reserves fell $8.1 cardinal to $688.9 cardinal successful the week ended May 15 driven chiefly by a $6.5 cardinal driblet successful overseas currency assets (FCAs) and a $1.5 cardinal diminution successful golden reserves owed to valuation effects.
