RBI intensifies rupee defense as INR nears 97 vs USD
RBI intensifies rupee defense as INR nears 97 vs USD. The Reserve Bank of India is stepping up market intervention to stem the rupee’s fall, signaling a strong stance at ₹97 per USD. Heavy dollar selling by RBI and increased bond collateral are aimed at stabilizing the currency amid outflows. This marks a critical level for forex reserves and monetary stability.
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