Overview
- RBI Governor Sanjay Malhotra said the bank stands ready to use policy tools to keep markets orderly.
- The rupee fell to a record low near 94.9 per dollar after briefly breaking 95 as oil surged.
- Energy prices jumped after conflict in West Asia, raising India’s import bill and inflation risk.
- Foreign investors have pulled about $26 billion from Indian stocks in a year, including roughly $20 billion since January.
- Analysts split on next steps, with one camp favoring rate hikes to steady the rupee and another urging a pause to protect investment.