RBI Governor Sanjay Malhotra said the central bank does not target any specific rupee level against the dollar, aiming instead for orderly forex conditions and intervening only to curb speculation or excessive volatility. The rupee had neared its weakest-ever level of Rs 97 per dollar in recent weeks, then rose for eight consecutive sessions to a four-month high before easing to Rs 94.83 on Thursday. Malhotra said fundamentals remain robust, citing GDP growth of 7.8%, and described inflation as elevated but within the tolerance band, with the decade-average at 4.7% versus 7.4% in the preceding four years. The rupee's slide has become a political talking point, implying a nearly 42% rise in the dollar's cost since October 2016, when it traded around Rs 66.83.
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- RBI does not target any price or level for rupee, says Governor Sanjay Malhotra
RBI Governor Sanjay Malhotra said the central bank does not target any price or level for the rupee, but will keep taking measures to curb speculation and excessive volatility to ensure orderly forex markets. He said geopolitical tensions, supply-chain disruptions, the West Asia conflict and trade uncertainty have made central bankers' job harder, as global inflation is elevated while growth is lower, projected at 3.1% this year by the IMF. Most economies have raised policy rates to tackle inflation, except a few such as Japan and Sweden where inflation is relatively low. In India, inflation has risen steadily since February, largely due to supply-side pressures, reaching 5.5%, and the RBI raised its policy repo rate by 25 basis points. Malhotra said controlling inflation remains the top goal, alongside ensuring financial stability.
- RBI does not target any price or level for rupee, says Governor Sanjay Malhotra
RBI Governor Sanjay Malhotra said the central bank does not target any price or level for the rupee, but will keep taking necessary measures to curb speculation and excessive volatility and ensure orderly conditions in the forex market. Speaking at the NDTV World Summit 2026 in New Delhi, he said geopolitical tensions, supply chain disruptions, the West Asia conflict and trade uncertainty have made the work of central banks more challenging. He noted that global inflation is elevated and commodity prices are higher, while global growth is lower, at 3.1% this year according to the IMF. He stressed that price stability remains the primary responsibility of central banks, and that inflation in India has risen steadily, largely due to supply-side pressures, to 5.5%. The RBI has raised its policy repo rate by 25 basis points, and its top goal is to rein in inflation while ensuring financial stability.
- RBI does not target any price or level for rupee , says Governor Sanjay Malhotra
Reserve Bank of India (RBI) Governor Sanjay Malhotra said at the NDTV World Summit 2026 in New Delhi that the RBI does not target any price or level for the rupee. The central bank will still take necessary measures to curb speculation and excessive volatility and keep forex markets orderly. Malhotra said geopolitical tensions, supply chain disruptions, the West Asia conflict and trade uncertainty make central bankers' work harder, with global inflation elevated and the IMF projecting 3.1% global growth this year. Most economies have raised policy rates, except a few such as Japan and Sweden, while India's inflation has risen steadily to 5.5%. The RBI raised its policy repo rate by 25 basis points, and price stability remains its top priority.
- RBI does not target any price or level for rupee , says Governor Sanjay Malhotra
RBI Governor Sanjay Malhotra said the central bank does not target any price or level for the rupee, but will keep curbing speculation and excessive volatility to ensure orderly forex markets. He said geopolitical tensions, supply chain disruptions, the West Asia conflict and trade uncertainty have made central banking more challenging, with global inflation elevated while the IMF projects growth of 3.1% this year. Most economies have raised policy rates, except a few including Japan and Sweden, where inflation remains relatively low. In India, inflation has risen steadily on supply-side pressures to 5.5%, and the RBI raised its policy repo rate by 25 basis points. Price stability remains the top goal, alongside financial stability.
- RBI does not target any price or level for rupee , says Governor Sanjay Malhotra
RBI Governor Sanjay Malhotra said at the NDTV World Summit 2026 in New Delhi that the central bank does not target any price or level for the rupee, but will keep curbing speculation and excessive volatility to ensure orderly forex markets. He said geopolitical tensions, supply chain disruptions, the West Asia conflict and trade uncertainties make central banks' job harder, with global inflation elevated and growth projected at 3.1% this year by the IMF. Most economies have raised policy rates, except a few including Japan and Sweden where inflation is low. In India, inflation has risen steadily since February, mainly due to supply-side pressures, to 5.5%, and the RBI has raised its policy repo rate by 25 basis points. Malhotra said the twin goals are price stability, with curbing inflation as the top priority, and financial stability.
- RBI does not target any price or level for rupee , says Governor Sanjay Malhotra
RBI Governor Sanjay Malhotra said at the NDTV World Summit 2026 that the central bank does not target any price or level for the rupee, but will keep taking necessary measures to curb speculation and excessive volatility and ensure orderly forex markets. He said geopolitical tensions, supply chain disruptions, the West Asia conflict and trade uncertainty have made central bankers' job more challenging, while price stability remains their primary responsibility. Globally, inflation is elevated and growth is lower, projected at 3.1% this year by the IMF. India's inflation has risen steadily to 5.5%, largely due to supply-side pressures, and the RBI raised its policy repo rate by 25 basis points.
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