Focusing on the performance of the Indian rupee, the report notes that the rupee depreciated by 0.1 per cent in June, reaching 83.57 against the US dollar
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The rupee closed at 83.53 against the greenback, down 0.47 per cent on the day, marking its worst single-day percentage decline since February last year
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According to the report, the Reserve Bank of India (RBI) interventions are expected to limit any rupee volatility
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The RBI said in its annual report on 30 May that it has finalised a strategic plan for the financial year 2024-25
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Despite the global push for de-dollarisation, challenges include the existing infrastructure around the dollar and concerns about alternative currency liquidity and stability
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Even in May, it continued to trade in a tight range of 83.43-83.52 per US dollar amidst a lack of FPI inflows and dollar demand from oil companies, according to a report by the Bank of Baroda
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