Loading…
Indian officials said the rupee's fall to record lows and the drop in forex reserves reflected spillover from a stronger US dollar rather than capital outflows. The RBI had been intervening since May 9 to prevent sharp moves, and reserves were said to be adequate for 18 months of imports.
Official confirmation of intervention suggests the rupee's weakness will be managed, leaving import costs for Indian buyers high but not spiralling.
thehindu.comSpecial CorrespondentMay 11, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
