USD/INR

This intervention is the strongest in over a decade, underscoring rising global FX volatility amid a strong dollar environment. It reflects broader EM central bank efforts to combat depreciation, which often precedes competitive devaluations and capital flight. With BTC dominance high, crypto markets may face headwinds as investors flee to USD safety.

US Dollar / Indian Rupee

The Reserve Bank of India has intensified its defense of the rupee, drawing a line at the 97 per USD level, marking its strongest currency intervention in over a decade.