Rupee Holds Steady at 90.37 Against Dollar Amid RBI Support

• The Indian rupee opened almost flat at 90.37 against the US dollar on December 18, likely due to support from the Reserve Bank of India (RBI).
• RBI's heavy intervention in the spot currency market on December 17 led to the rupee's strongest intraday recovery in seven months.
• The rupee recovered 1.03%, its highest appreciation since May 23, 2025.
• Before the recovery, the rupee had breached the 91-level against the US dollar on December 16.
• RBI intervened approximately $30 billion in the forex market between June-Sept and October 2025.

Why It Matters: RBI's timely intervention helped stabilize the rupee at 90.37 against the US dollar.