RBI Governor pledges action to stabilize rupee market
Governor Sanjay Malhotra says the RBI will use its reserves to ensure orderly rupee movements. He noted the currency is undervalued after recent depreciation.
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India's central bank will deploy its $700B reserves to stabilize the rupee following a 6% depreciation since late February. Governor Sanjay Malhotra stated the currency is currently undervalued in both nominal and real effective exchange rate terms. Investors face potential intervention as the Reserve Bank of India prioritizes orderly price discovery over specific exchange rate targets.
