Indian Rupee (INR)
a.k.a. INR, Rupee
India's currency, code INR, managed by the Reserve Bank of India, which intervenes often to smooth its moves.
In plain English
India's currency, code INR, managed by the Reserve Bank of India, which intervenes often to smooth its moves.
The Indian rupee (INR) floats in a managed way: the Reserve Bank of India uses its large reserves to limit sharp swings. India imports a lot of oil, so higher crude prices tend to weigh on the rupee.
Foreign access to rupee trading is restricted, so much offshore trading happens through non-deliverable forwards settled in dollars.
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