IMF urges currency flexibility as RBI steps up rupee defence amid oil price pressures, foreign outflows
The International Monetary Fund (IMF) urged for greater currency flexibility during a press conference in Mumbai, emphasizing that countries allowing exchange rate movements have fared better amid global shocks. The Reserve Bank of India (RBI) has intensified its defense of the rupee, implementing measures to manage dollar demand and counter inflation as oil prices rise. The RBI's actions will be crucial in stabilizing the currency amid ongoing economic pressures.