My view is that it is a bear market rally in the US. The reason to be sceptical about the rally in America is that you have a double whammy – tightening of higher rates and shrinking balance sheets – which is negative for liquidity.
RBI’s strong dividend to govt boosted by USD sales, interest income: SBI report
The Reserve Bank of India’s record dividend payout of nearly Rs 2.7 trillion to the government has been made possible due to robust gross dollar