Economic TimesLean R·
Rupee seen in 94.50-96.50 range as RBI steps up intervention
The rupee is expected to trade within a narrow range over the medium term. Stepped-up Reserve Bank of India interventions have helped curb volatility significantly. Stronger dollar inflows via the FCNR(B) scheme also contributed to this stability. The central bank's substantial foreign exchange reserves provide confidence in its intervention capabilities. Traders anticipate subdued near-term volatility as the RBI manages market imbalances.
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