BusinessPhoto: Business StandardRBI Takes Strong Measures to Defend Rupee Amid Rising Pressure
The Reserve Bank of India has implemented significant measures to stabilize the rupee, including opening a dollar window for state-owned oil refiners and imposing a reserve requirement on foreign-exchange derivatives. These steps follow a recent interest rate hike and signal readiness for further tightening. Despite these efforts, sustaining gains may be challenging due to high oil prices and over $30 billion outflow from Indian equities this year.
Business Standard·



