Sitharaman: RBI Aims to Curb Rupee Volatility, Not Fix Value
What Happened
Speaking at the Bloomberg New Economy Forum in New Delhi on October 13, 2026, Finance Minister Nirmala Sitharaman clarified that the RBI’s interventions are meant to reduce volatility in the rupee, not defend a fixed level. She noted the rupee had appreciated 82 paise to ₹94.96 per dollar on Tuesday, following RBI measures such as a special dollar window for oil companies and tighter rules on forex derivatives. Sitharaman attributed most of the rupee’s depreciation over the past 18 months to external pressures like oil prices and global capital flows, while affirming India’s macroeconomic fundamentals and fiscal discipline remain sound.
Key Takeaways
The remarks highlight India’s stance that the rupee will find its market-driven level, with RBI acting only to prevent disruptive swings. This reassures investors about policy stability and fiscal prudence, even amid global currency pressures.