Pressure on rupee may continue after temporary gains on RBI actions, say economists

What happened: The RBI lowered transaction limits on derivative deals, restricted rebooking of cancelled contracts, and imposed a 20% cash reserve requirement on forex derivative contracts above $2 million, plus a special window for three public sector oil retailers. Key numbers: Rupee at 96.73 a dollar, offshore forwards 96.53/54. Long term decline of 3-4% cited. Why it matters: Economists say the pressure on the rupee is predominantly global and the worst may not be over, with RBI measures seen as only a temporary lift.

Rupee pressure may persist despite RBI actions, per economists.

Rupee pressure may persist despite RBI actions, per economists. — impact context not separately stored; see What changed.