India Considers Rate Hike to Stabilize Slumping Rupee

The Reserve Bank of India is considering an interest rate hike to stabilize the rupee following a currency slump. RBI Governor Sanjay Malhotra held internal meetings to discuss emergency measures after the currency hit recent lows. Bloomberg News reported the discussions on Thursday, citing people familiar with the matter.

Top officials are evaluating all available tools to support the rupee. The discussions follow the rupee's sharp decline against major peers.