RBI Isn't Artificially Keeping Rupee Strong, Das Says.

According to Reserve Bank of India Governor Shaktikanta Das, the strength of the Indian rupee is not artificially maintained and reflects the country's strong economic fundamentals. Das stated that India is attracting significant foreign-exchange inflows, particularly after bond index inclusion, which is supporting the rupee. He also expressed confidence in India's ability to sustain economic growth of up to 8% in the medium term. The central bank's interventions have helped keep the rupee stable, which is beneficial for markets, exporters, importers, and investors. India's foreign-exchange reserves have reached a record $689 billion, largely due to inflows into rupee bonds following their inclusion in JPMorgan Chase & Co.'s emerging-market index. Das also mentioned that the RBI's decision on interest rates will be primarily based on domestic conditions and not influenced by the US Federal Reserve. He emphasized that India's growth rate is expected to remain around 7.5% in the coming years. [Extracted from the article]