The Reserve Bank of India has been selling dollars to alleviate the depreciation pressure on the rupee due to the surging dollar and foreign portfolio outflows. e central bank sold a net of $19 billion from its reserves in July alone to prevent the rupee from falling much below 80.
Why are metal stocks rallying: Explained!
Metal stocks have been on a roll lately. The Nifty Metal index has been up significantly, with gains of over 50%, in the last one