RBI burns through $60 billion in six weeks to defend the rupee.

Forex reserves dropped to $726 billion on Oct 9 from $785.7 billion on Sept 4. The latest weekly depletion reached $8.58 billion as the central bank manages currency volatility.

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RBI opens a special dollar window for state-run OMCs starting October 12.

By routing oil import payments through designated banks instead of the open market, the central bank aims to reduce downward pressure on the INR.

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RBI initiates a massive one trillion rupee liquidity drain through new debt sales.

The central bank targets surplus banking liquidity to counter inflationary pressures from high oil prices.

Expect tighter banking conditions ahead.

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