Mumbai, Sept. 23 -- The Indian rupee's cumulative depreciation of 13.1 per cent over the past year and a half could prove to be temporary, with the currency potentially stabilising and even appreciating from current levels as India's external position strengthens, Reserve Bank of India Deputy Governor Poonam Gupta has said.

Addressing the 13th SBI Banking & Economics Conclave, Gupta said the rupee depreciated 13.1 per cent on a point-to-point basis between March 31, 2025 and September 16, 2026.

She also added, "Put together, these arguments indicate that one may think of the cumulative depreciation of the INR (or shall one say its overcorrection) in the past year and a half to be a temporary phenomenon," Gupta said.

She shared that the...