RBI Faces $100 Billion Challenge After Record Currency Defense

Over the past two years, India’s central bank built one of the world’s largest bearish dollar bets to support a persistently weak rupee. It now faces the challenge of unwinding...

By Bhaskar Dutta, Subhadip Sircar, Anup Roy · Bloomberg Markets

Over the past two years, India’s central bank built one of the world’s largest bearish dollar bets to support a persistently weak rupee. It now faces the challenge of unwinding that position without destabilizing the currency market.