💨 Abstract

On Monday, the Indian rupee ended mostly steady against the US dollar, despite regional currency declines and equity-related outflows, due to the Reserve Bank of India's intervention. The RBI urged banks to avoid heavy bets against the rupee, which has been near its record low. The rupee's resilience was attributed to the central bank's routine interventions.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖