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Thanks to these measures, the rupee has gained over 2% since March 27 and rose 0.5% to 92.54 per dollar on Wednesday.
But there's been a downside: hedging costs for businesses have gone up, and banks reportedly lost around ₹5,000 crore.
Still, Malhotra reassured everyone that the RBI remains committed to keeping Indian markets open and making the rupee more global (no major policy shift is happening).