Finance
Sock JohnsonRBI Powers Up Rupee Like The Rock Powers Up The Crowd
Listen up, folks! The RBI just pulled off a miracle, boosting the rupee from the brink of disaster at 91.9875 to a solid 91.60 after that budget drop on Monday. Stocks took a tumble, but don’t you worry; the comeback is on! With a dash of swagger, the markets are showing signs of life, ready to rumble back into action!
few days ago | Reuters
Quick rundown
1.The Indian central bank intervened to boost the rupee from record lows.
2.India's federal budget announcement impacted bonds and equities.
3.Investor sentiment was dampened by higher government borrowing estimates.
4.Unexpected rise in securities transaction tax affected market sentiment.
5.The rupee is expected to underperform through 2026 amid global volatility.
