According to CoinMeta, data from the Reserve Bank of India on Saturday showed that since June, India's efforts to attract overseas capital have led to an inflow of over $40 billion, enhancing the foreign exchange reserve buffer of the Reserve Bank of India. As of July 31, deposits from non-residents in foreign currency ($36.72 billion), combined with other overseas borrowings, totaled approximately $41 billion. On July 24, the Reserve Bank of India sold about $7 billion to defend the rupee, marking its largest direct intervention in months. Previously, tensions in the Middle East pushed crude oil prices above $100 per barrel, putting pressure on the rupee, but since then, oil prices have fallen back to around $90. The governor of the Reserve Bank of India tried to assuage investors' concerns about the rupee in an interview this week. He stated that the recent weakness of the rupee reflects geopolitical tensions, a strengthening dollar, and volatility in emerging markets, rather than a deterioration in India's economic fundamentals.