Finance Minister Nirmala Sitharaman says India is seeing rupee weakness against the U.S. dollar mainly due to global uncertainties, while domestic macroeconomic fundamentals remain strong. She adds that the Reserve Bank of India (RBI) continues efforts to keep the currency stable, and that these actions are expected to continue.
Several outlets report that RBI measures are aimed at reducing pressures that increase dollar demand and managing market risks. According to Times of India, steps include curbs on foreign exchange derivatives, a dedicated dollar window for oil marketers, and stricter documentation requirements for currency transactions above a specified threshold. Bloomberg notes that recent actions contributed to the rupee rebounding after steep losses. Overall, outlets present a consistent view that current volatility is driven by external factors, prompting ongoing regulatory responses to limit disorderly currency moves.
