The Reserve Bank of India (RBI) conducted a dollar-rupee buy/sell swap for $5 billion on Friday, with the transaction to be reversed on August 4. The RBI received bids worth five times the notified amount at $25.6 billion.
The consumption trend in India has weakened after almost three to four years of fairly strong consumption boost. So, we are positive long term, but
Dhiraj Agarwal, MD of Ambit Investment Managers, notes potential for a near-term market bounce after months of decline, but warns of long-term challenges and moderate
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