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economictimes.indiatimes.com / 1 year ago
RBI’s policy shift and global trade tensions drive Indian Rupee's depreciation against the US dollar: UBI Report
Rupee against the dollar, says a report by Union Bank of India.
In the first two months of 2025, the Indian rupee has already depreciated more than half the depreciation happened in all of 2024. By February 28 the Rupee has depreciated by 1.8 per cent against USD, this decline is already more than the 1.5 per cent depreciation seen in 2023 and nearly half of the 3 per cent depreciation recorded in 2024.
The report said «change in stance of RBI governor Sanjay Malhotra who stated that the central bank is open to more flexible rupee and will allow it to move freely in tandem with its local peers as against former RBI governor Das who favoured a very stable rupee against the US dollar is also putting pressure on rupee».
The intensification of trade war risks and uncertainty surrounding US trade policies have led to market concerns. The rupee, along with other Asian currencies, has come under pressure as investors worry about global trade disruptions.
Adding to this, the report also added that a policy shift by the Reserve Bank of India (RBI) has also impacted the rupee.
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