Rupee volatility hits a new low for the year, traders say the Indian Central Bank intervened in the market.

Jin10 data reported on October 10th that data shows the volatility of the Indian Rupee against the US Dollar has sharply calmed down this month, with the volatility index dropping to its lowest point this year. Despite facing record outflows of stock funds and the highest US tariffs in Asia putting pressure on the local currency, the situation remains the same. Currency traders point out that the possible interventions by the Central Bank—including in the offshore market—are a key reason for the decrease in volatility. After hitting new lows multiple times this year, the Rupee is currently stabilizing below the 89 mark, which traders say further supports the notion that the Indian Central Bank may intervene.