The rupee’s quiet week, explained

The rupee barely moved in the interbank market this week, which is itself news. In the open market, spreads widened on Thursday after a brief rumour about a delayed energy payment — a rumour the finance ministry later called “recycled.”

Importers told Manzar they are still booking cover two to three weeks out, not two months. That caution is the real story: stability is here, confidence is not.