India’s central bank will likely continue its efforts to curb volatility in the rupee, Finance Minister Nirmala Sitharaman said Tuesday, after recent measures helped the currency rebound from steep losses.

The Reserve Bank of India is “not trying to fix the rupee. They are trying to stop the volatility, and for that there is a lot of effort from RBI side,” Sitharaman said at the Bloomberg New Economy Forum in New Delhi. “These efforts from RBI, I understand, will continue.”The rupee, down 5.7% so far this year, is among Asia’s worst-performing currencies despite repeated interventions by the RBI in recent months. Over the weekend, the central bank unveiled a series of forceful measures to support the currency. While the measures propelled the rupee to its biggest gain in six months on Monday, longer-term pressures — from India’s dependence on imported energy to its twin deficits and volatile capital flows — are proving harder to counter.

Sitharaman noted that the depreciation is driving capital outflows “and that is one of the reasons why probably even there’s a second thought about should we be here.”She stressed that the government has kept the economy on a sound footing and been careful with its spending and borrowing. The government’s focus on improving the ease of doing business in India has helped the country court investors looking to diversify away from China. In 2025-26, total foreign direct investment in India surged to almost $59 billion, up 18% from a year ago.

Hours ahead of her remarks, Modi touted India as one of the world’s fastest growing major economies that has brought opportunities for global investors. He positioned India as a reliable partner in an increasingly uncertain world.

India has been undertaking reforms to attract more capital into the nation. Earlier in August, Sitharaman went on a nine-day tour of Canada and the US, to pitch India as an attractive investment destination.