Arvind Panagariya has advised the Reserve Bank of India not to let the rupee approaching Rs 100 against the US dollar dictate monetary policy decisions. In a post on X, Panagariya said the “psychology” surrounding the Rs 100 mark should not influence policy responses
The Indian rupee strengthened by 21 paise to 96.05 against the US dollar, supported by RBI intervention and easing concerns over global oil supply disruptions. Improved market sentiment, planned RBI liquidity measures, and stabilising crude oil prices helped the currency recover after recently nearing record lows against the dollar.
