🇮🇳 Indian Rupee has come under pressure, trading near ₹96.5 per US dollar, mainly due to rising global oil prices and a stronger US dollar.

Since India imports around 85–90% of its crude oil, higher oil prices mean Indian companies need more US dollars to pay for imports. This increases demand for dollars and weakens the Rupee.
Here's how the Reserve Bank of India (RBI) is helping:
● Selling US dollars from its foreign exchange reserves to increase the supply of dollars and reduce pressure on the Rupee.
● Attracting more dollar deposits from NRIs through a special scheme, which has already brought in nearly $10 billion to strengthen India's forex reserves.
● Using other liquidity measures, including forex swaps, to keep the currency market stable.
⚠️ The RBI is not trying to fix the Rupee at a specific price. Its main goal is to reduce sharp fluctuations and prevent panic in the currency market.
A stable Rupee helps keep fuel and import costs under control, supports businesses, and boosts confidence among investors and the overall economy.