Finance
Mr. BillionhairRupee Wobbles, But India's Reserves Are Absolutely Massive!
Folks, the rupee is wobbling! On Friday, it took a dive because of a strong dollar and those sneaky US Treasury yields. But don’t worry! The Reserve Bank of India came to the rescue, keeping it from crashing past 91! Now it’s at 90.99—just a little dip! And guess what? Our foreign exchange reserves are skyrocketing! Tremendous news, folks!
few days ago | Anjali Kumari
Quick rundown
1.Rupee weakens amid strong dollar and US Treasury yields.
2.RBI intervention prevents breach of 91-per-dollar mark.
3.India's forex reserves hit a new high of $725.7 billion.
4.US-Iran tensions cause caution in bond markets.
5.Rising oil prices and Fed policy weigh on emerging currencies.
