RBI Governor Says Rupee's Movement Reflects Market Fluctuations, Economic Fundamentals Remain Strong

RBI Governor Sanjay Malhotra stated that the rupee crossing the 90-per-dollar mark reflects normal market fluctuations rather than economic weakness. He emphasized that the RBI will not intervene to fix exchange rates but aims to curb excessive volatility. Malhotra highlighted India's strong macroeconomic fundamentals, including high growth, low inflation, sufficient foreign reserves, and manageable current account deficit, assuring that the rupee's movement is expected to be non-linear and orderly.