Nirmala Sitharaman says RBI may act, will not peg rupee
Business
Finance Minister Nirmala Sitharaman just shared that the Reserve Bank of India (RBI) might roll out more moves to keep the rupee stable, especially after its recent jump in value.
She made it clear at a New Delhi forum that while the RBI is on top of things, it won't lock the rupee at any fixed rate.
RBI sells dollars, rupee jumps
The RBI has been busy selling dollars and tightening rules for foreign-exchange hedges, basically making it tougher for banks to bet against currency swings.
Thanks to these efforts, the rupee just saw its biggest one-day boost in six months.
It's all part of its plan to keep things steady when markets get bumpy.