India Has Begun Dumping Billions of US Dollars

India has once again been caught red-handed dumping US dollars to shield its local currency, the rupee (INR), from an all-out collapse. On Monday, the INR hit an all-time low of 87.60 per USD, sending shockwaves through the forex markets. The Reserve Bank of India (RBI) swiftly ordered state-run banks to intervene, flooding the market with dollars in a desperate bid to halt the rupee’s freefall. This isn’t a one-time event—it’s part of a growing trend that signals deeper cracks in the global financial order. According to Reuters, India’s central bank instructed major state-run banks to sell off billions in US dollars to artificially boost the rupee’s value. And this is far from the first time—India has been accused of…