RBI to Stabilize Undervalued Rupee Amid Five-Month Low
The Reserve Bank of India announced plans to stabilize the rupee, which has fallen to a five-month low. Despite a policy rate hike—the first since February 2023—the rupee weakened due to foreign capital outflows and a stronger dollar index. RBI intervened with dollar-rupee swaps to manage liquidity and support the currency's correct valuation.
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