A report by Reuters quoting foreign exchange analysts suggest that the Indian rupee is unlikely to face a dramatic decline in the near term. Reports also suggested that the Reserve Bank of India had stepped in to limit the slide of the Indian rupee by selling its foreign reserves.


Is the Indian rupee set for more weakness?

The Central Bank of Sri Lanka has ordered importers, exporters, and those engaged in receiving funds for ‘goods and services’ provided abroad, including professionals, to convert their foreign currency earnings to rupees. This comes as the island nation is facing a severe foreign exchange crisis.

Sri Lanka's central bank orders to convert foreign earnings to Rupees

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