S. 10 per dollar. Traders attributed the flat performance to the Reserve Bank of India's pre‑emptive steps to mop up excess rupee liquidity, coupled with a wave of portfolio‑rebalancing inflows into equity indices that prevented a sharper slide. S.
Federal Reserve announced a 25‑basis‑point rate hike, sending the dollar index above the 100‑point mark. Most Asian currencies slipped after the Fed decision, but the rupee’s resilience stood out. 5 billion of surplus rupees, helped keep the exchange rate steady. 3 percent as foreign and domestic funds rotated into large‑cap stocks, especially in information technology and consumer staples.
For the average salaried investor, a stable rupee eases concerns over rising import‑priced inflation and preserves the purchasing power of overseas travel or education expenses. It also means that equity‑linked savings instruments, such as ELSS or SIPs in large‑cap funds, are less likely to be eroded by currency volatility in the short term. However, investors should stay alert to any further RBI interventions or global rate‑policy shifts that could reignite volatility.