FX.co ★ Rupee Steady Ahead of GDP Update

The Indian rupee was little changed at around 90.9 per dollar, stabilizing after recent declines as investors weighed fresh economic data and continued central bank intervention. Market participants remained cautious ahead of the release of India’s updated GDP methodology, which is expected to alter the country’s reported growth profile.

The government is shifting the GDP base year from 2011–12 to 2022–23, with advance estimates pointing to 7.6% growth for the current fiscal year, up from the earlier projection of 7.4%. The revised framework assigns greater weight to rapidly expanding sectors such as the digital economy and gig work, while reducing the relative importance of agriculture and informal manufacturing.

Economists note that the new GDP series will be critical in shaping future policy decisions. The Reserve Bank of India is expected to maintain a growth-supportive stance, guided in part by the insights emerging from the revised data.