RBI steps in to keep rupee from slipping to record low, traders say
BusinessLine 1 hr ago·9 Oct 2026, 4:44 am
The Reserve Bank of India stepped into the foreign‑exchange market just before the spot rupee session opened, with state‑run banks seen selling dollars on its behalf. The move was aimed at halting a slide toward a new record low.
A stable rupee helps keep import costs and inflation in check, and it reassures investors who watch currency volatility as a risk factor. By providing dollars, the RBI signaled its willingness to use reserves to support the currency when needed.
Investors should monitor the RBI’s future interventions, the size of its foreign‑exchange reserves, and upcoming macro data such as trade balances and inflation trends, which will shape the central bank’s next steps.
Excerpt from BusinessLine
The Reserve Bank of India likely intervened in the FX market on Friday to support the rupee as the currency neared its all-time low, three traders told Reuters , with the unit battered by persistent portfolio outflows and elevated oil prices due to the Iran war. The rupee was at 96.7575 per dollar in early…Read the original at BusinessLine
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- Category: Economy.
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