RBI uses half of $140 bn forex capital haul to defend rupee: Report

The RBI has deployed around $75 billion to $80 billion of the over $140 billion raised through special measures to bolster forex reserves, Reuters reported. Since June 8, it has used spot dollar sales and dollar-rupee swaps to defend the weakening rupee. High oil prices, rising US Treasury yields and foreign equity outflows have intensified pressure on the Indian currency.