The Indian rupee has crossed a psychological barrier, prompting discussion on its management. While the current RBI regime is seen as more flexible than the previous fixed-rate policy which depleted reserves and invited speculative attacks, concerns remain. The article questions why foreign capital is exiting India despite strong reported growth. It notes the RBI has allowed some depreciation but also intervened since mid-2025 to defend the rupee against external and domestic pressures, suggesting a mixed approach to currency management.