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In a move to contain theliquidity impact of its foreign exchange operations, the Reserve Bank of India sold a record $18 billion in the forward markets in June to defend the currency as the rupee turned volatile during the month to touch…

The RBI and the government are unlikely to come up with any special schemes like the India Millennium Deposit or the special guaranteed FCNR deposits of 2013 as the current reserves are adequate to intervene and prevent a sharp slide.…