Indian rupee among Asia's top performing currencies in fiscal 2027
The Indian rupee is having a good run: it's now one of Asia's top-performing currencies for fiscal 2027.
Thanks to a big drop in crude oil prices and a pickup in foreign portfolio investor inflows into India, the rupee has gone up by 0.97% so far in this fiscal year and closed at 93.92 to the dollar on Monday.
That's worse than the South Korean won and Chinese yuan, while the Indonesian rupiah actually dropped 6.24%.
RBI aid, ₹38,971 cr bolster rupee
The Reserve Bank of India (RBI) has quietly helped keep things stable by stepping in when needed and making it easier for oil companies to get dollars, which eased pressure on the currency.
Plus, a recent surge of ₹38,971 crore in foreign equity investments has given the rupee even more strength.
Analysts say RBI's careful moves and global trends will be key to keeping this momentum going.