Rupee Has Witnessed Low Volatility Relative To Peers, Says RBI Governor

Published on Nov 23, 2023 10:51

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said the local currency has witnessed �low volatility� and orderly movements as compared to its peers. Speaking at an event in Mumbai, Das said, �On the exchange rate front, Indian rupee (INR) has exhibited low volatility and orderly movements relative to peers despite elevated US treasury yields and a strong US dollar,� Das said. He said this is due to the strength of the underlying macro-fundamentals of the economy and reassuring forex buffers. The dollar index and the US treasury yields have softened in the last three or four days. Das further stated that household inflation expectations are becoming more anchored, but added that headline inflation is vulnerable to recurring and overlapping food price shocks.