Mumbai, June 11 -- The Reserve Bank of India (RBI) is unlikely to use interest rates to defend the rupee despite the ongoing global energy shock triggered by the closure of the Strait of Hormuz, according to Anindya Banerjee, Vice President and Head of Commodity and Currency Research at Kotak Securities.

Speaking to ANI, Banerjee said there is no need for aggressive monetary policy action as speculative pressure on the currency remains limited.

"Using interest rate as a tool is not appropriate for India because we don't have a speculative attack. RBI has choked all channels of speculation... So, I don't see a situation where RBI will use the interest rate tool to tackle the currency," he said.

His comments come amid concerns over the i...