The Indian rupee has exhibited remarkable stability in comparison to other Asian emerging markets this year, with a mere 0.5% depreciation, thanks to substantial inflows and intervention by the Reserve Bank of India (RBI). Option traders are predicting that the RBI will maintain a firm hold on the rupee for the remainder of the year. Data indicates that traders are betting on the rupee weakening by less than 1% by the end of December, with open interest on contracts clustered around the 83 and 84 per dollar levels. Despite global risk factors, including higher US yields and geopolitical tensions, the rupee has remained resilient. The RBI has emphasized its intervention to manage volatility rather than target a specific exchange rate.