AhlulBayt News Agency (ABNA): India is considering several measures to stabilize the continuously weakening rupee, including increasing bank interest rates, currency exchange interventions, and promoting foreign investment.
The report further stated that senior officials of the Reserve Bank of India (RBI), including Governor Sanjay Malhotra, held multiple meetings this week to review measures aimed at countering the decline of the Indian currency after the rupee’s exchange rate fell to nearly 97 rupees per US dollar — the weakest level in its history.
These efforts by the Reserve Bank of India come at a time when rising oil prices and declining confidence in global bond markets have placed significant pressure on the Indian currency, pushing it to a historic low.
The report added that due to India’s heavy dependence on oil and gas imports from the Persian Gulf, the Indian rupee has lost nearly 6 percent of its value since the start of the Iran war — referring to the US and Israeli military aggression on Iranian territory.
Bloomberg further reported that rising energy costs are expected to increase inflation in India, which could force the RBI to raise interest rates.
According to Islamic Republic News Agency (IRNA), by the time the report was published, the rupee had reached a value of 96.10 per US dollar.
It is worth noting that major economies in the Indo-Pacific region — including South Korea, Japan, Australia, and India — are being directly affected by the negative consequences of what the report describes as the “illegal war” by the United States and Israel against Iran.
Despite witnessing and experiencing the destructive consequences of the conflict, none of these countries has so far shown willingness to condemn the attacks by the United States and the Zionist regime on Iran, and they have continued to maintain silence on the issue.
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