Equity

Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), said today that India's foreign exchange reserves remain adequate by standard reserve adequacy metrics, providing import cover of more than 10 months and covering 90.8% of the country's external debt. On the exchange rate, he reiterated that the RBI will continue to allow the rupee to be market-determined while intervening to curb excessive volatility, discourage speculative activity and prevent disorderly movements, ensuring the currency remains aligned with economic fundamentals and does not disrupt economic activity.