Finance
Mr. BillionhairRBI's Big Play: Managing Rupee's Drop, Not Defending Levels
Folks, the Reserve Bank of India is making moves! Instead of defending levels, they're managing the rupee's drop—huge! The rupee hit a record low of 91.7450, but then it bounced back a little. Experts say it could hit 94! They're spending $45 billion—yes, billion! But they're playing it cool, letting the market do its thing. Tremendous strategy, folks!
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.
