RBI Governor Sanjay Malhotra says rupee at ₹95 not concerning
The Indian rupee recently slipped to about ₹95 per US dollar, down more than 4% during the March quarter.
But the RBI isn't worried, Governor Sanjay Malhotra explained that the central bank doesn't target any specific level or band and only steps in if things get too wild.
Its main goal? Keep the market steady, not control every move the rupee makes.
RBI lets markets decide Indian rupee
Global uncertainty (think: West Asia conflicts and strong demand for US dollars) is putting pressure on currencies everywhere, including ours.
Still, Malhotra reassured everyone that India's financial system is solid: liquidity remains healthy and banks are in good shape.
The RBI's longstanding policy lets market forces decide the rupee's value, stepping in only to prevent big shocks and keep things running smoothly.