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Indian rupee refuses to budge despite multiple headwinds

ReutersReuters ยท 1y ago
Indian rupee refuses to budge despite multiple headwinds
Medial

The Indian rupee has remained stable despite various challenges such as oil prices, U.S. yields, and portfolio outflows. The currency has been trading in a narrow range throughout October, with volatility at its lowest level in years. The Reserve Bank of India has played a crucial role in keeping the volatility under control by intervening regularly in spot, non-deliverable forwards, and futures markets. Factors like higher U.S. yields and the ongoing Middle East conflict have negatively impacted risk sentiment, leading to foreign investors withdrawing funds from Indian equities. This week, the focus will be on the policy decisions of the Bank of Japan, the Federal Reserve, and the Bank of England.

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