Rupee to Remain Stable Despite Dollar Weakness, RBI Intervention

Azeez Mustapha


Unlock Daily Forex Signals

Select a Plan


1 - month



3 - month



6 - month






Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

In a Reuters poll of currency experts, the Indian rupee is expected to maintain a narrow trading range against the US dollar in the upcoming year. Despite the dollar’s recent weakness and India’s robust economic growth, the rupee has lingered near its record low of 83.47 per dollar, reached on November 10.

The Reserve Bank of India (RBI) plays a pivotal role in this stability, frequently intervening in the foreign exchange market to curb volatility. The RBI’s strategic buying of dollars aims to bolster foreign exchange reserves and support the nation’s exports.

Anticipation of the US Federal Reserve lowering interest rates in 2024 has softened the dollar’s strength, favoring emerging market currencies. However, the rupee has yet to capitalize on this weakness, trading at its current level of 83.35.

According to the Reuters poll, currency experts predict the rupee to trade at 83.30 by the end of December and 83.23 by the end of March. Despite India’s economic growth outpacing its peers at 7.6% in the last quarter, nearly one-third of analysts expect the rupee to hit a new all-time low by the end of this month.

India GDP chart
Image: Times of India

Commenting on the impressive GDP performance, India PM Narendra Modi tweeted that the growth reflected the resilience and strength of the economy in the face of tough global economic realities.

Looking ahead, the rupee is projected to appreciate marginally to 82.80 by the end of 2024, reflecting a modest gain of about 0.6% from its current level. Most strategists believe the RBI will continue its interventions, with only two analysts foreseeing a potential easing within the next three months.

Rupee Could Benefit from Fed Rate Cuts

However, some analysts suggest the rupee could benefit from a weaker dollar in the coming year if the Federal Reserve initiates rate cuts sooner than expected. With the Fed fund futures currently pricing in a rate cut as early as March 2024, the dynamics of the rupee-dollar relationship remain a focal point for market watchers.

In summary, the rupee’s resilience, coupled with the RBI’s strategic interventions, is poised to navigate the currency through the uncertainties of global markets, offering a steady course amid potential challenges.


Try Out Our Trading Bot Services Today. Get Started Here

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *