14.04.202603:39:12UTC+00Indian Rupee Steadies as RBI Tightens Oversight

The Indian rupee traded around 93.3 per dollar, steadying after falling to a three-week low, as intervention and tighter oversight by the Reserve Bank of India helped rein in volatility. The central bank has been pressing lenders to unwind sizable arbitrage positions built across onshore and offshore markets, easing dollar demand and supporting a rebound in the currency from recent lows. Regulators are now examining how banks closed out these trades, including whether exposures were shifted to corporate clients or related entities instead of being fully squared off in the open market. This heightened scrutiny has also dampened speculative activity, contributing to lower volatility in the foreign exchange market. Meanwhile, markets assessed new inflation data showing India’s annual rate accelerated to 3.4% in March 2026 from 3.21% in February, the fastest pace in over a year but slightly below forecasts.