The International Monetary Fund (IMF) recently reclassified India s exchange rate regime as stable instead of floating. However, the Reserve Bank of India (RBI) disputes this reclassification. The IMF claims that from December 2022 to October 2023, the RBI maintained exchange rate stability by intervening in the currency market, deviating from market-driven conditions as per its stated exchange-rate policy since March 1993.
The International Monetary Fund (IMF) recently reclassified India s exchange rate regime as stable instead of floating. However, the Reserve Bank of India (RBI) disputes this reclassification. The IMF claims that from December 2022 to October 2023, the RBI maintained exchange rate stability by intervening in the currency market, deviating from market-driven conditions as per its stated exchange-rate policy since March 1993.
Mumbai, The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 82.63 against the US dollar, as the support from positive domestic
The RBI said users will be able to transact with the digital rupee through a digital wallet offered by the participating banks and stored on mobile phones/devices.
The retail digital rupee makes its debut today. As the four banks selected by the Reserve Bank of India (RBI) gear up for the pilot launch of the digital rupee, here are 10 important points that you need to know about the digital currency