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The US Treasury's semi-annual currency report placed India on its monitoring list for the first time, alongside China, Germany, Japan, Korea and Switzerland. India met two of three criteria: a significant bilateral surplus with the US and persistent forex intervention.
The rupee fell 29 paise to 65.49 on the day the news broke.
Monitoring-list status increases scrutiny of RBI intervention and can add pressure on the rupee through sentiment and capital flows, which raises dollar-priced import costs for India.
indianexpress.comGeorge MathewApr 16, 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.
