RBI achieves these objectives by buying USD when the US Dollar is weaker and selling them when they are stronger. Between May 2020 and September 2021, when the USD was weakening, RBI bought around $158 billion in spot and onshore forwards.
Could India end up in bubble territory in next 3-5 years? Nirav Sheth explains
Nirav Sheth is optimistic about corporate India’s earnings trajectory but mentions India may be in potential bubble territory. The market has continued to gain for