Rupee Surges 97 Paise After RBI Measures: Will The Recovery Last Amid FII Selling And Oil Risks?

The Indian rupee surged 97 paise to open at 95.76 against the US dollar after the RBI announced emergency measures to curb speculative dollar demand and support the currency. The central bank introduced a special dollar window for oil marketing companies and tightened forex derivative rules, including a 20% foreign exchange risk reserve requirement. Nachiket Kelkar, Business Today, explains the impact of these measures and whether the rupee's recovery can sustain amid elevated global bond yields, crude oil volatility and heavy FII outflows. India's import dependence and export competitiveness remain key long-term challenges for the currency.