Traders flagged an unusual two-week calm in the rupee, suggesting the Reserve Bank of India has returned to forceful stabilization tactics after the currency’s late-September record low. Weekly fluctuations shrank to 15–29 paise versus a broader range earlier this year. Desk chatter points to active defense of key levels to deter speculative shorts. While stability supports sentiment, persistent equity outflows and trade frictions pose risks. Markets await official commentary and reserves data to gauge sustainability of intervention intensity.