The RBI clarified that October’s tightening of foreign‑exchange rules is designed to stop same‑day speculative trades, while affirming that capital‑account flows remain unhindered.
Geopolitical unrest in the Gulf and upcoming US inflation data keep the greenback firm, while India relies on solid macro buffers to cushion currency swings.
Four traders told Reuters the RBI sold dollars on Monday, keeping the rupee around 96 per dollar while a firm dollar, oil above $100 and foreign fund outflows continue to weigh on the currency.
