New Delhi: The Reserve Bank of India (RBI) does not target any price or level for the rupee, Governor Sanjay Malhotra said on Sunday, adding that the central bank will continue to take measures to curb speculative activities and excessive volatility to ensure orderly conditions in the foreign-exchange market, ANI reported.

Source: ANI via LatestLY

Speaking at the NDTV World Summit 2026 in New Delhi, Malhotra said the central bank has not hesitated to take necessary measures to curb speculative behaviour and that its primary aim is to prevent disruptions and ensure orderly market conditions.

Source: ANI via Daily Prabhat

Malhotra said geopolitical tensions, supply-chain disruptions, the West Asia conflict and trade-related uncertainties have made the job of central banks more challenging, although their fundamental responsibilities remain unchanged, the reports said.

Highlighting pressure on the global economy, he said inflation levels globally are elevated, crude and other commodity prices are higher, and global growth is projected at 3.1 per cent for this year as per the IMF. He stressed that price stability remains the primary responsibility of central banks, alongside growth objectives for some institutions and financial stability.

The Governor's remarks set out the RBI's stated approach to the currency: no fixed level is defended, but intervention remains available when the bank judges trading to be speculative or excessively volatile. (Sources: ANI via LatestLY; ANI via Daily Prabhat; NewKerala.)