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| RBI will continue efforts to keep Rupee stable; currency volatility due to external factors: FM | | |
Early Times Report
NEW DELHI, Oct 13: Finance Minister Nirmala Sitharaman on Tuesday said the rupee has depreciated "significantly" over the past year and a half, and the RBI will continue its efforts to prevent excessive volatility in the domestic currency.
Speaking at the Bloomberg New Economy Forum 2026, Sitharaman said the rupee has reached a low against the US dollar, and the RBI is taking efforts through its regulatory powers to ensure the domestic currency stays stable.
"They are not trying to fix the rupee. They are trying to stop the volatility. And for that, there is a lot of effort from the RBI side. So, these efforts from the RBI... will continue not to...fix the rupee. We would appreciate it if the rupee finds its own (value)," the minister said.
The Reserve Bank over the weekend announced a slew of measures to stem rupee fall.
The central bank announced the creation of a special window for oil marketing companies, which will take the dollar demand away from the spot market and tightened rules governing forex derivatives trades to curb speculative bets against the rupee. |
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