The Indian central bank, the Reserve Bank of India (RBI), has recently increased its involvement in the non-deliverable forward (NDF) market in order to manage currency fluctuations and address pressures on the Indian rupee.

The RBI has traditionally focused on the local over-the-counter (OTC) spot market to stabilize the currency, but recent developments indicate a shift towards the NDF market as a means to mitigate exchange rate volatility.

RBI Governor Shaktikanta Das has confirmed the central bank's presence in the NDF market and noted that its intervention strategies have evolved. This move demonstrates the RBI's proactive approach in navigating the complexities of currency management in response to changing economic conditions.