Rupee Surges 1% Against Dollar After RBI's Big Rescue Plan | Can The Recovery Last?

The rupee has staged a sharp comeback against the US dollar, jumping nearly 1% after the Reserve Bank of India announced aggressive measures to support the currency. But can this recovery last? The RBI has introduced a special dollar window for state-owned oil companies, tightened foreign exchange derivative rules and imposed additional requirements on certain currency transactions to curb speculative pressure. The rupee's recovery comes after the currency plunged close to record lows, weighed down by rising crude oil prices, foreign investor outflows and strong dollar demand. Why did the RBI's earlier measures, including the FCNR(B) deposit facility, fail to deliver lasting relief? And what will it take to stabilise the rupee? Market expert Neeraj Deewan explains why RBI intervention may offer only short-term support and why stronger economic fundamentals are essential for a sustained recovery.