Indian rupee strengthens to ₹94.93 after RBI measures
The Indian rupee just had its best day in two months, closing at ₹94.93 against the US dollar, way up from ₹95.79 last session.
This jump comes after the Reserve Bank of India (RBI) rolled out new support moves to steady the currency and attract more US dollars into the country.
RBI keeps rate, revises inflation target
To help boost the rupee, the RBI announced fresh swap options for foreign currency deposits and easier borrowing schemes for big public-sector companies.
Instead of jumping straight into the foreign exchange market, the RBI is focusing on encouraging inflows with these market-friendly steps, something experts like Kunal Sodhani say shows a smarter approach.
Meanwhile, the RBI kept its main interest rate steady but revised its inflation target to 5.1% from 4.6% for FY27, and trimmed its GDP forecast for FY27 (2026-27).