RBI intervention keeps Indian rupee stable despite stock market decline and firm dollar
The rupee stayed flat on Friday as RBI support offset weak stocks and a firm dollar. The currency remains on track for its worst monthly decline since 2022.
Insights:
The Indian rupee traded largely flat on January 30, 2026, but remained near record lows as a firmer U.S. 
US dollar and weakness in local equity markets continued to pressure the currency. Intervention by the Reserve Bank of India helped keep the USD/INR exchange rate around the 92.00 pivot, providing a buffer against material capital flow weakness and elevated import-related dollar demand that have characterized the market this month.
US dollar and weakness in local equity markets continued to pressure the currency. Intervention by the Reserve Bank of India helped keep the USD/INR exchange rate around the 92.00 pivot, providing a buffer against material capital flow weakness and elevated import-related dollar demand that have characterized the market this month.
