Central bank sold $9.7 billion in Nov as rupee falls 0.7%

Mumbai The Reserve Bank of India net sold $9.7 billion in November from $11.8 billion in October, likely to contain excess depreciation in the Indian rupee. The rupee depreciated over 0.7% in November last year. The real effective exchange rate (REER)-the weighted average of India' s currency in relation to a basket of other six major currencies was 94.20 in December, decreasing from 96.17 in November. It stood at 104.62 in December 2024.