Rupee set for a rebound on RBI curbs, but depreciation pressure persists

What happened: The RBI moved over the weekend to curb speculative bets and divert dollar demand from the spot market, and the rupee surged 1% at Monday's open. From 12 October the RBI will supply dollars directly to three state-run oil marketing companies. Key numbers: Rupee closed at 96.73 per dollar on Friday, near its record low Why it matters: Experts expect the relief to be short-lived, saying the measures buy time rather than reverse the depreciation trend, with high crude prices, capital outflows and weak balance of payments weighing. Measures may raise hedging costs for importers.

RBI curbs may spark rupee rebound, but depreciation pressure persists.

RBI curbs may spark rupee rebound, but depreciation pressure persists. — impact context not separately stored; see What changed.