RBI Governor Signals He's Open to More Flexible Rupee

India's new central bank governor has shown a willingness to allow the rupee to move more freely in tandem with peers in the region while still intervening in the foreign-exchange market to curb excessive moves, according to people familiar with the regulator's thinking.

- Bloomberg

Reserve Bank of India governor Sanjay Malhotra, who took office in December, has held multiple meetings with departments at the central bank ahead of his first monetary policy meeting in February, the people said, asking not to be identified as the discussions are private. He showed keen interest in the RBI's currency intervention functions and expressed no opposition when his team explained the recent movements in the rupee and the need to allow it to depreciate, the people said.