The Indian rupee has remained stable over the course of several years, primarily due to norms put in place by the RBI. However, the volatility of the rupee’s movement is seen clustered around the global crisis period of 2008 and then again during the eventual slowing down of the Indian market economy due to QE programs abroad. The tight regulatory framework of the RBI is what constrained the rupee against the dollar amidst this volatility. Traditionally, the movement was kept by the reserve bank such that it remained within a window where exports became competitive. In contrast, the strength of the rupee today is a result of a strong inflow of capital traded that the rupee is facing due to artificially low interest rates across the globe and excess liquidity.