RBI uses 12 billion dollars to defend rupee amid war

India's central bank has launched an aggressive campaign to stabilize the rupee, deploying an estimated $12 billion this week. This move comes as the escalating conflict involving Iran continues to rattle global markets and push the local currency toward record lows. The scale of the intervention reflects significant pressure on the rupee as the Middle East crisis enters its second week. The surge in geopolitical tension has driven Brent Crude Oil prices up by approximately 16% over the past few days, triggering nearly $2 billion in foreign capital outflows from Indian equity markets.