USD/INR Stalls at 96.00 Amid RBI Market Interventions, Says Societe Generale

The USD/INR exchange rate has repeatedly tested the 96.00 level but failed to break above it, largely due to active interventions by the Reserve Bank of India (RBI) in the foreign exchange market. According to Societe Generale, the RBI maintained a visible presence to prevent further appreciation of the US dollar against the Indian rupee.

These interventions reflect the central bank's efforts to stabilize the currency and curb volatility amid external pressures. Societe Generale highlighted that the RBI’s consistent involvement has effectively capped the USD/INR from moving beyond the 96.00 threshold.

For Japanese investors and traders, monitoring RBI actions is crucial as they can influence regional currency flows and impact the broader Asia-Pacific FX market, including yen pairs.