BankingAfter close
RBI takes aggressive stance to defend rupee
after close1 source ↓written by the desknot a recommendation
- daily in November
- 11 paise
- in April
- 35 paise
- in April
- 49 paise
- against major Asian
- 4%
The Reserve Bank of India (RBI) has intensified efforts to support the rupee, intervening aggressively since mid-October. This marks a shift from a previous strategy that allowed depreciation to aid exporters. The rupee has stabilized, moving within a narrow range of 11 paise daily in November, compared to 35 paise in April and 49 paise in May.
Despite a softer dollar, the rupee has depreciated 4% against major Asian currencies, highlighting its underperformance. Market experts suggest this intervention may help stabilize the currency in the near term.
Not investment advice. For informational purposes only.