Rupee Set for Increased Volatility as RBI Eases Control Amid Dollar Strength

Rupee Set for Increased Volatility as RBI Eases Control Amid Dollar Strength - Reuters Poll

The Indian rupee is likely to see more volatility as the Reserve Bank of India, under its new governor Sanjay Malhotra, relaxes its control over the partially convertible currency. This move comes as the persistent strength of the U.S. dollar continues to weigh on the rupee, a Reuters poll said.

Indeed, since the December surprise appointment by Governor Malhotra, indications from the Reserve Bank of India in the currency market suggest moving away from earlier strategy of stripping off foreign exchange reserves to take care of continuing rupee weakness.

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