Rupee has been among the least volatile currencies since 2023: RBI governor

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The primary concern lies in the fact that full CAC could render India susceptible to significant and abrupt inflows or outflows of foreign capital, thereby heightening the risk of financial instability.

In recent months, the RBI has actively engaged in the foreign exchange market to manage fluctuations in the rupee, primarily employing public sector banks (PSUs) as intermediaries to sell US dollars.

Speaking to CNBC International, he said, "The rupee has remained very stable against the US dollar and the volatility index.

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Category: BusinessFinance

Markets: India

Topics: Reserve Bank of India Capital account convertibility Rupee stability Exchange rate volatility Rupee vostro accounts Foreign exchange market International trade Shaktikanta Das RBI Local currency trade agreements Emerging markets Financial stability Currency fluctuations US dollar Economic policy

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-16 @ 17:49:51 (21 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 572 words

Reading Time: 4 minutes read

Sentences: 22 lines

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Copyright Owner: © Business Standard

News ID: 22529772

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