Rupee surges following measures by Reserve Bank of India to curb dollar demand
- 1The Reserve Bank of India announced extensive measures over the weekend to curb dollar demand and speculative trading.
- 2The USD/INR pair fell 1.1% to 95.739 rupees.
- 3With an 81% probability of an interest rate freeze priced into the market, investors are awaiting US inflation data to be released this week.
So what's the key point?
The Reserve Bank of India introduced measures to prevent the demand for dollars. As the rupee value fell 1.1%, investors are waiting for US inflation data.
Source Reuters +2 · View original ↗
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