What is Indian Rupee (INR)?
The Indian rupee (INR) is the official currency of India, the world's most populous country and fifth-largest economy. The Reserve Bank of India (RBI) actively manages INR through a "managed float" โ intervening in FX markets to smooth volatility while letting market forces set the trend. USD/INR is the most-watched cross.
Why it matters for investors
Rupee moves affect India's import bill (especially crude oil โ India imports ~85% of its oil), corporate earnings (IT exporters benefit from weak rupee; importers hurt), foreign portfolio inflows, and inflation. A stable rupee is a policy priority for RBI given oil import dependency.