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The Reserve Bank of India has begun intervening in the currency market to curb volatility, after the rupee fell to 66.90 per dollar on Wednesday and recovered to 66.66 on Friday. Foreign exchange reserves fell $2.5 billion to $423.58 billion in the week ended April 20.
The rupee is the worst-performing Asian currency year to date, down 4.18%.
RBI dollar sales support the rupee and cap import cost increases, but reserve drawdowns signal persistent outflow pressure. Intervention may limit near-term rupee weakness without reversing the trend.
rediff.comAnup RoyApr 30, 2018Not 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.
