RBI purchases $9.6 bn in September to curb rupee's appreciation amid strong foreign investment inflows

economictimes.indiatimes.com:

dollar inflows into local stocks and bonds and curbed the rupee from excess appreciation.
The rupee appreciated 0.1% in September boosted by strong risk appetite following the US Federal Reserve's outsized 50 bps rate cut.

However, the currency's upside was limited due absorption of dollar inflows by the Reserve Bank of India.

The currency moved in a tight range in September from 83.8/$1 to 83.7/$1, as the RBI absorbed dollar inflows.
The RBIs foreign exchange reserves also reached a record high of $704.89 billion on September 27.

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