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Bloomberg columnist Andy Mukherjee argues the RBI has been buying large amounts of dollars through auctions, with $10 billion bought over a month and a commitment to reverse the trade in 2022. He questions official 7% GDP growth figures and the central bank's jumpy stance ahead of the election.
Two quarter-point rate cuts since February are also cited.
Large RBI dollar purchases inject rupee liquidity and can keep the rupee's direction uncertain, which matters for pricing dollar-denominated imports.
gulfnews.comAndy Mukherjee, BloombergApr 28, 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.
