25 Apr 07 Indian Rupee breaks the 41 barrier but RBI refuses to intervene

The rupee touched a record high against the dollar, today. For the first time in a decade, the Indian rupee has crossed the Rs. 41 per dollar mark. The Indian rupee is in the middle of a very strong bull run. The appreciating rupee is causing a lot of problems for exporters and Indian software companies. However, Mr. Reddy in an interview yesterday, made it clear that the RBI has no plans to intervene in the near future. For the RBI, the rising rupee is fine but the rising inflation is not. Hence, to prevent inflation, RBI has decided not to intervene and stop the rupee from appreciating further.

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