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RBI Deputy Governor B.P. Kanungo said the rupee's 2018 slide to near 75 per dollar was driven by capital-flow volatility and risk aversion, not a change in fundamentals.
He cautioned that currency intervention is costly, can conflict with monetary policy, and has limits when the rupee depreciates. The speech was given at a FEDAI conference in Beijing.
The RBI's stated limits on defending the rupee suggest currency volatility may persist, which keeps the cost of dollar-priced feed imports uncertain for Indian buyers.
thehindu.comSpecial CorrespondentApr 25, 2019Not 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.
