News > RBI expected to tame rupee swings following record low, say traders

RBI expected to tame rupee swings following record low, say traders

Reserve Bank of India's consistent intervention in the foreign exchange market has effectively subdued exchange rate volatility. The sudden and steep decline on Friday, with the rupee hitting an all-time low of 83.43 against the dollar during domestic trading's final moments, caught traders off guard. Head of Treasury at SBM Bank India is confident that the RBI would not permit unchecked depreciation of the rupee despite Friday's downturn.