RBI doesn't target any specific rupee level, says Guv Malhotra

The Reserve Bank of India (RBI) does not target any price level on the rupee, Governor Sanjay Malhotra reiterated at an International Monetary Fund and World Bank event on Wednesday.

- Business Desk

The rupee has been in a firm downward trend, weighed by US President Donald Trump's trade policies, including tariffs against India, and geopolitical tensions.

The Reserve Bank's frequent interventions have kept the rupee from breaching its all-time low of 88.80, last touched on September 30.

"We believe in the markets to decide what the level should be ... Our effort really is to ensure that there is an orderly movement of the rupee both sides, and any undue or any abnormal volatility is curbed," he said.