RBI Keeps Focus on Rupee Stability, Not a Fixed Exchange Rate The Reserve Bank of India does not target any specific level for the rupee, Governor Sanjay Malhotra said.<...
The Reserve Bank of India does not target any specific level for the rupee, Governor Sanjay Malhotra said.
Malhotra said the central bank's focus is on curbing volatility in the currency rather than directing it toward a predetermined exchange-rate level.
The governor's remarks clarify the RBI's stated approach to the rupee. Instead of targeting a particular value, the central bank is focused on limiting sharp fluctuations in the currency.
The statement places volatility management at the centre of the RBI's currency approach while avoiding a commitment to any specific rupee level.
Malhotra's comments indicate that the RBI's objective is to address instability in the rupee market, not to maintain the currency at a fixed level. No further details were provided.
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