US stocks declined on Monday as oil prices surged. This jump revived inflation concerns and increased monetary policy tightening expectations. Investors processed hawkish comments from Federal Reserve Chair Kevin Warsh. Despite the day’s losses, major indexes posted monthly gains for August. Financial markets anticipate a potential rate hike at September’s meeting.
RBI net forex buys hit a record $43 billion in August, balances it with swaps
The Reserve Bank of India recorded a net purchase of $43.26 billion in August’s foreign exchange market. This was done to manage significant dollar inflows