Finance Minister Nirmala Sitharaman Says RBI Will Curb Rupee Volatility

Finance Minister Nirmala Sitharaman stated the RBI will continue measures to prevent excessive rupee volatility, attributing recent depreciation to external global uncertainties.

The RBI recently created a special window for oil marketing companies to reduce spot market dollar demand and tightened rules on forex derivatives to discourage speculation.

Following these measures, the rupee appreciated 1% on Monday and traded at ₹94.96 on Tuesday, with the government maintaining strong macroeconomic fundamentals and forex reserves.