Smita Roy Trivedi creator text monographic eng ENG

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pp. 15-18

The Indian rupee has been consistently stable in the recent past in keeping with the signals from the Reserve Bank of India that it will prevent sharp volatility in the currency. The monthly data released by the RBI show that both spot and forward market interventions have been used for currency interventions. In a recent monetary policy statement, the RBI governor explicitly iterated that the central bank will be in the forward market to support the rupee. In this context, the shifting modus of the RBI intervention from spot to forward markets and reasons behind such a paradigm shift are examined along with the cost and benefits of the forward market intervention. Indian rupee Reserve Bank of India Currency Monetary policy Market intervention https://www.epw.in/journal/2024/36/commentary/keeping-indian-rupee-stable.html https://www.epw.in/journal/2024/36/commentary/keeping-indian-rupee-stable.html 240919 20240919154352.0