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RBI Governor says forex intervention only to curb ... - Tribune India
Mumbai (Maharashtra) [India], April 8 (ANI): The Reserve Bank of India on Wednesday reiterated that its intervention in the foreign exchange market is aimed solely at curbing excessive volatility and not at targeting any specific level of the rupee.Speaking during the monetary policy announcement, RBI Governor, Sanjay Malhotra said, "Despite the stronger macroeconomic fundamentals, the Indian rupee in the last financial year depreciated more than average in the previous year.... our exchange rate policy remains unchanged. Specifically, intervention in the foreign exchange market is aimed at smoothing excessive and disruptive volatility without targeting any specific level or band of price for the exchange rate."The statement comes at a time when the Indian rupee has witnessed significant fluctuations in recent weeks. The rupee was trading at around 91 per US dollar at the beginning of March but saw heightened volatility during the month, breaching the 95 mark against the dollar at one point.However, the currency has since stabilised and is currently trading at around 92.5 per US dollar.The RBI Governor noted that despite stronger macroeconomic fundamentals, the rupee depreciated more than the average seen in the previous year during the last financial year.Reaffirming the central bank's stance, he said the exchange rate policy remains unchanged and is aligned with the long-standing principle of a market-determined currency.He emphasised that the RBI does not aim to defend any particular level of the rupee but intervenes only to prevent excessive and disruptive movements that may not be justified by economic fundamentals.The central bank also highlighted that it will continue to act judiciously to ensure that volatility does not lead to self-fulfilling expectations that could further amplify currency movements.The remarks indicate that while the RBI remains watchful of sharp fluctuations in the rupee, it is not attempting to artificially control its value.Instead, the focus remains on maintaining orderly market conditions and preventing undue volatility, especially in the backdrop of global uncertainties and geopolitical developments that have impacted currency markets.The recent cooling of the rupee from its peak volatility levels suggests that market conditions have stabilised to some extent, even as the RBI continues to monitor the situation closely. (ANI)(This content is sourced from a syndicated feed and is published as received. The Tribune assumes no...
RBI MPC Meeting 2026 Live: RBI's forex market curbs won't remain ...
LiveThe Reserve Bank of India's Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.25% in its April meeting, extending the pause as it navigates evolving inflation and growth dynamics.Read More▼ RBI MPC Meeting 2026 Live: 'RBI’s move signals predictability' “We welcome the RBI’s decision to maintain status quo on the repo rate at 5.25%. Given the global uncertainties, particularly the West Asia situation impacting crude prices, the RBI’s move signals predictability. Further the continuation of a neutral stance ensures flexibility while maintaining growth momentum. Along with stable EMIs and proactive liquidity management, this will support end-user demand and sustain real estate activity, especially as the economy continues to navigate a balanced growth-inflation trajectory.” -- Manoj Gaur, CMD, Gaurs Group RBI MPC Meeting 2026 Live: Equity valuations have corrected and don’t see much of repatriation by investors, says RBI Guv Sanjay Malhotra RBI Guv Sanjay Malhotra: One had been hearing from the boards that a lot of operational matters are also coming to the bank boards, as a result of which they are not able to concentrate on real policy and strategic matters RBI Guv Sanjay Malhotra: there have been years when the rupee have depreciated much less RBI Guv Sanjay Malhotra: OIS is a very thin market Equity valuations have corrected and don’t see much of repatriation by investors RBI MPC Meeting 2026 Live: RBI Guv Sanjay Malhotra: India's macroeconomic fundamentals are very strong RBI Guv Sanjay Malhotra: we are not anticipating a dent to remittances if the crisis is going to be resolved very soon Whether FDI/ FPI it’s only a matter of time that it should come to India. Those who are patient and want to make long term money will come to India RBI Guv Sanjay Malhotra: our remittances actually come from rather diverse set of regions in which the share of the Gulf countries has declined over time. RBI Guv Sanjay Malhotra: India's macroeconomic fundamentals are very strong for a number of reasons. RBI MPC Meeting 2026 Live: We have sufficient forex reserves, it's not a matter of concern for us at all, says Malhotra RBI Guv Sanjay Malhotra: We are coming up with a new framework for categorization of NBFCS in upper, middle layer RBI Guv Sanjay Malhotra: We have sufficient forex reserves, it's not a matter of concern for us at all Eu & UK bi laterals should be implemented soon. Canada is also in pipeline, says Malhotra RBI MPC Meeting 2026 Live: Crud...
RBI Governor: Forex Intervention Only to Curb Rupee Volatility, Not ...
RBI Governor Sanjay Malhotra has reaffirmed the central bank's foreign exchange policy, stating its interventions are solely to curb excessive market volatility and not to defend a specific rupee ...
RBI Governor says forex intervention only to curb volatility not ...
The Reserve Bank of India on Wednesday reiterated that its intervention in the foreign exchange market is aimed solely at curbing excessive volatility and not at targeting any specific level of ...
