India's Central Bank Sold $9.8B in March to Defend Rupee Against Iran War Shock
🏦 RESERVE BANK — Delhi spent $9.8B defending the rupee, but bought no seat at Doha. 📌 LOOK CLOSER: RBI's March intervention confirms Hormuz is hitting Indian finances at the sovereign level — not just remittances and trade. $9.8B in a single month drains reserves needed for future shocks. With Doha stalled and 90 days to supply crisis, India burns capacity defending currency while having zero leverage over either Washington or Tehran.
