Mumbai, Aug. 4 -- The RBI's foreign exchange intervention during January-May 2026 amounted to a net sale of USD 14.9 billion to check excess volatility of the rupee, Parliament was informed on Monday. The value of the Indian Rupee (INR) is market-determined, with no target or specific level or band, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha. "The Reserve Bank of India (RBI) regularly monitors the foreign exchange market and intervenes in situations of excess volatility. As per the latest data available from the RBI, the RBI's foreign exchange intervention during January-May 2026 amounted to a net sale of USD 14.9 billion," he said.

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