<h1>RBI dollar sales from reserves to curb rupee volatility under FEMA managed-float, pushing INR stronger by close</h1> Market reporting indicates the RBI conducted foreign exchange market intervention by selling US dollars from reserves to moderate excessive volatility in the INR/USD rate, consistent with the managed-float approach under the FEMA framework. The intervention is described as aimed at preventing further depreciation pressure and allowing the rupee to 'find its own level' while smoothing disorderly movements. The stated operative effect was an appreciation of the rupee during the trading session, closing stronger against the US dollar than the prior close.