BusinessPhoto: Deccan HeraldIndia's Central Bank Takes Urgent Steps to Support Rupee
The Reserve Bank of India is actively defending the rupee amid economic pressures, using tactics from the 2013 taper tantrum. It encouraged banks to borrow $133 billion from the diaspora and raised currency hedging costs. Oil importers must buy dollars directly from the RBI. Despite strengthening to about 95 per dollar, risks remain due to high crude prices, inflation, and US bond yields.
Deccan Herald·

