RBI intervention helps rupee recover from near record offshore low
Business
The Indian rupee was slipping close to a record low against the US dollar, but things turned around after the Reserve Bank of India (RBI) jumped in with some big moves.
Thanks to its intervention, the rupee picked up strength in offshore trading early Monday.
RBI introduces new foreign currency rules
On Saturday, October 10, 2026, the RBI set up a special window to help state-run oil companies get US dollars and introduced new rules for some foreign currency trades.
These steps were aimed at stopping the rupee from falling further.
Analysts say this active defense by the RBI should help keep things steady for now, giving the currency much-needed support during a tricky period.