ForeXistenZ › Central banks › RBI
Reserve Bank of India (RBI)
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Manages the rupee for the world’s most populous nation.
How the RBI moves the INR
A central bank sets the interest rate on its currency. Traders compare that rate with the rates of other central banks; the wider the gap, the stronger the pull of money towards the higher-yielding currency. That is why the minutes before a RBI decision are among the most volatile of the month for the INR. Book I and Book II of the ForeXistenZ trilogy show how to prepare for these days — and when to stay out.
Frequently asked
What does the Reserve Bank of India do?
Manages the rupee for the world’s most populous nation.
Where is the Reserve Bank of India?
The Reserve Bank of India (RBI) is in Mumbai, India.
Why do forex traders watch the RBI?
Interest rates are the price of a currency. When the RBI raises or cuts rates — or only hints at it — money moves into or out of the INR, and INR reacts within seconds.
Where are the RBI’s decisions published?
Official decisions, statements and the meeting calendar are published on https://www.rbi.org.in.
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Other central banks
CBUAECentral Bank of the UAE
Abu Dhabi, United Arab Emirates — Holds the dirham’s peg to the dollar.
SAMASaudi Central Bank
Riyadh, Saudi Arabia — Keeps the riyal pegged to the dollar — the foundation of oil priced in dollars.
MASMonetary Authority of Singapore
Singapore, Singapore — Steers policy through the exchange rate itself, not an interest rate — a rare model.
BOIBank of Israel
Jerusalem, Israel — Manages the shekel.
HKMAHong Kong Monetary Authority
Hong Kong, Hong Kong SAR — Defends the Hong Kong dollar’s peg to the US dollar.
BIBank Indonesia
Jakarta, Indonesia — Guards the rupiah for South-East Asia’s largest economy.