RBI parachute gives falling rupee a glide path to avoid 84/$ breach

September 11, 2024

The Reserve Bank of India has been actively intervening in the currency market to prevent the rupee from breaching the 84 per dollar mark. This strategy involves selling and purchasing dollars to maintain exchange-rate stability amid a broader trade deficit and global economic uncertainties.

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Explained: Will NRIs be liable for capital gains tax on mutual fund sales in India?

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The bank attributes the bullish revision to stronger-than-expected central bank demand and mounting recession risks, which have contributed to a surge in gold-backed ETF inflows.

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