Скачать или смотреть Mr Abhishek Goenka Founder, IFA Global & Billonz | ET Now Breaking Now 04 Dec 2025

The rupee had moved decisively beyond the ₹90 level and was trading around ₹90.40, with immediate resistance expected in the ₹90.75–₹91 range. The recent weakness had been primarily flow-driven, led by sustained FPI withdrawals, ongoing IPO-linked FDI repatriation, and elevated gold import demand, which together had widened the trade deficit.

The RBI continued to intervene selectively, not to defend a specific level but to ensure an orderly adjustment, safeguard reserves, and support export competitiveness. While the currency had depreciated by about 6%—higher than the historical average of roughly 3% annually—it appeared to be about 3%–4% undervalued on a REER basis.

As clarity on trade discussions improved and capital flows stabilised, a gradual medium-term recovery toward the ₹88 zone remained a reasonable baseline expectation. In summary, the move represented a cyclical correction rather than a structural shift. Some near-term volatility was likely, but the broader outlook remained fundamentally stable, with no cause for panic.

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