No level for rupee in mind, market forces decides forex rate: RBI Governor Sanjay Malhotra

Reserve Bank Governor Sanjay Malhotra emphasised that market forces determine the rupee's value against the US dollar, and the RBI focuses on medium to long-term stability rather than daily fluctuations. Finance Minister Nirmala Sitharaman and the RBI Board discussed economic strategies and the global economic outlook at their recent meeting.