Sanjay Malhotra says RBI prioritizes calm over specific rupee level
The Reserve Bank of India (RBI) isn't trying to keep the rupee at any magic number against the US dollar.
RBI Governor Sanjay Malhotra explained at the NDTV World Summit that its real focus is on keeping things calm in the currency market and stopping wild swings, not on hitting a specific exchange rate, even as the rupee recently dipped close to its all-time low before bouncing back.
Sanjay Malhotra cites 7.8% GDP, inflation
With the rupee's ups and downs making headlines (and sparking some political debate), Malhotra reassured everyone by pointing to India's solid economic health: think 7.8% GDP growth and inflation staying within RBI's comfort zone.
He also highlighted that, despite recent volatility, average inflation over the past decade (2016-2026) stood at 4.7%, significantly lower than the 7.4% average recorded in the four years preceding that period, showing India can handle global shocks pretty well.