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RBI Steps In to Stabilize Rupee After Consecutive Declines
RBI intervenes to prevent further INR depreciation after a 5-day slide, stabilizing the currency with its forex reserves.
The Indian Rupee (INR) faced a sharp decline over five consecutive days, but the Reserve Bank of India (RBI) stepped in to prevent further depreciation. By using its forex reserves and market interventions, RBI was able to halt the slide and stabilize the rupee. The move helped calm investor concerns and restore confidence in India's currency.