The Reserve Bank of India (RBI) sold a net $31.98 billion to defend the rupee during January-October 2025, a significant shift from purchasing $23.03 billion in the same period of 2024. This intervention reflects efforts to manage rupee volatility amidst a strong US dollar and global economic uncertainties. Despite the RBI's actions, the rupee depreciated by 3.3% in the first ten months of 2025, compared to 2.2% in 2024, indicating continued external pressures.