BusinessPhoto: NDTVRBI Strengthens Rupee Defense, Plans More Measures
The Reserve Bank of India has taken its strongest action in over a decade to support the rupee, which rebounded from nearly 97 against the US dollar. RBI Governor Sanjay Malhotra indicated further steps may be taken to curb speculative trading. The central bank recently raised interest rates from 5.25% to 5.5% and may continue hikes amid inflation and capital inflow challenges due to falling foreign direct investment.
NDTV·


