The central bank sold $9.7 billion in November as the rupee depreciated 0.7%

MUMBAI: The Reserve Bank of India posted net sales of $9.7 billion in November against $11.8 billion in October, with further depreciation of the Indian rupee likely. The rupee depreciated by over 0.7 percent in November last year. Real Effective Exchange Rate (REER) – The weighted average of India’s currency against a basket of six other major currencies was 94.20 in December, down from 96.17 in November. In December 2024 it was 104.62.