Finance
DoggfatherRBI's Smooth Moves: Managing Rupee Drop, Not Defending It
Yo, the Reserve Bank of India is keepin' it smooth, man. Instead of stressin' over the rupee's dip, they’re just cruisin' with the pace. It hit a low of 91.7450 to the dollar, but then bounced back to 91.55. Analysts predict it might slide to 94 by year-end, as cash flow slows down. RBI's been spendin' mad dough to keep it chill, but they’re takin' it easy on the defense.
few days ago | Bloomberg
Quick rundown
1.RBI focuses on moderating rupee's depreciation pace.
2.Rupee hits record lows against the dollar.
3.Barclays predicts rupee at 94 to a dollar by year-end.
4.Foreign outflows and trade delays impact rupee.
5.RBI holds $687 billion in reserves for intervention.
