Rupee Remains Stable with RBI Support Despite Market Challenges

The Indian rupee holds steady against the dollar as central bank interventions counteract foreign outflows and strong U.S. currency.

The Indian rupee traded nearly flat at 84.3875 per U.S. dollar, supported by likely interventions from the Reserve Bank of India (RBI).
Foreign portfolio investors have withdrawn over $3 billion from Indian markets in November, adding to significant outflows last month.
The RBI's substantial foreign exchange reserves of over $675 billion are being strategically utilized to stabilize the rupee.
India's strong macroeconomic fundamentals, including controlled deficits and robust economic growth, position it well to manage current currency pressures.
Despite short-term challenges, experts predict a positive medium to long-term outlook for the rupee, with expected net foreign inflows in the coming financial year.