Dollar shortages in India’s banking system and weakness in the rupee are being attributed to dollar purchases by the Reserve Bank of India to stem inflows from foreign investments, analysts said. Despite almost $11bn flowing into the country’s foreign exchange reserves so far in May, the rupee has surrendered all gains this year in a bid to curb sharp appreciation and boost flagging exports. Analysts said investors are also watching a possible hike by the US Fed in June, which would add further pressure on the rupee.
HDFC Bank shares in focus post Q3 earnings. Should you buy, sell, or hold?
HDFC Bank’s shares are in focus after the lender posted a 2.2% YoY growth in net profit for Q3FY25, reaching Rs 16,736 crore, which fell
January 23, 2025