Business & Finance
Rupee’s Relentless Slide Draws Importers Into RBI Currency Fight
Key Points
Rupee’s Relentless Slide Draws Importers Into RBI Currency Fight India’s importers are now in the crosshairs of the central bank, as its latest efforts to shore up the rupee expand from financial markets to the economy. Importers accumulated a record amount of currency hedges in September, a sign they’re bracing for more weakness after the rupee’s near 6% decline this year. Forward dollar purchases, a gauge of their demand, soared 44% to an average of $64 billion a month this year, compared...
Rupee’s Relentless Slide Draws Importers Into RBI Currency Fight
India’s importers are now in the crosshairs of the central bank, as its latest efforts to shore up the rupee expand from financial markets to the economy.
Importers accumulated a record amount of currency hedges in September, a sign they’re bracing for more weakness after the rupee’s near 6% decline this year. Forward dollar purchases, a gauge of their demand, soared 44% to an average of $64 billion a month this year, compared with 2025, data from the Clearing Corp. of India show.