Business Standard

The 'stable' run for the rupee to continue

Reserve Bank of India will have to continue to monitor the movements and be nimble to spot volatility in both directions and intervene selectively to reduce excess noise

Rupee, Indian Rupee

Photo: Bloomberg

Madan Sabnavis
The rupee dipped by 0.9 per cent against the dollar between March 2023 and March 2024.  The US currency had fallen by 1.5 per cent against the euro. The rupee’s performance was better than that of the renminbi, won, rand, ringgit, rupiah, and baht. By March 2024, forex reserves had risen by $64.2 billion over end-March 2023 (foreign currency assets increased by $55.6 billion). This is a very impressive performance on the external front and it will probably also witness a low current account deficit (CAD) for FY24. The global economy, though stable, has still traversed uncertain times as the
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

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First Published: Apr 03 2024 | 11:40 PM IST

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