RBI Governor Sanjay Malhotra On Rupee: Keeping a close eye on speculation and sharp fall…Governor Sanjay Malhotra spoke on the movement of Rupee
NDTV India
Reserve Bank of India Governor Sanjay Malhotra’s big statement has come out on the ongoing debate regarding the fluctuations in the value of rupee against the dollar. At the NDTV World Summit 2026, he said that the Reserve Bank does not target any specific price or level of the rupee. The job of RBI is only to ensure that there are no sudden fluctuations in the currency market and to curb speculation. Along with this, he said that RBI is keeping a close watch on speculation and currency fluctuations.
What is RBI’s plan on the fall of rupee?
He said that RBI takes steps when necessary to prevent speculation or sharp fall of the rupee. Similarly, whenever any uncertainty is seen in the market, RBI will not shy away from taking necessary steps. Will intervene only when necessary to support the rupee.
Will the rupee cross 97?
In recent times, the rupee had reached its lowest level i.e. around Rs 97 against the dollar. However, after this, recovery was seen for 8 consecutive days and it touched the upper level of four months and came around Rs 94.83.
RBI Governor said that a decade ago in October 2016, the rupee was at 66.83, but the country’s strong economic data shows that there is no reason to panic. India’s recent 7.8% GDP growth rate shows the internal strength of the economy.
What did the RBI Governor say on inflation rate?
On the inflation front, the Governor admitted that the price pressure is a little high, but it is within the limits set by the RBI. He informed that the country’s average inflation rate in the last 10 years has been 4.7%, which is much lower and under control compared to the 7.4% average rate of the previous four years.
Sufficient funds to repay Forex reserves and FCNR deposits
Talking about foreign exchange reserves, Sanjay Malhotra said that India’s external sector is very strong and sustainable. The Reserve Bank has sufficient foreign exchange reserves and time to repay the money raised under the FCNR(B) Deposit Scheme. On average, the tenure of these deposits is more than 4 years, so there is no need to worry about payments.
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Source: ndtv.in
