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The Reserve Bank of India has shifted part of its currency intervention to the forwards market, with its outstanding forwards book growing to $28.3 billion by November. Forward premiums have risen to their highest in more than four years, which is attracting more foreign inflows.
The RBI's intervention is adding liquidity and foreign inflows that complicate monetary policy and keep the rupee's exchange-rate path uncertain. This matters for Indian importers' currency costs but has no direct commodity price effect.
m.economictimes.comBloombergFeb 12, 2021Not enough comparable past events yet for a historical read.
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.
