India’s central bank has zero tolerance for volatile and bumpy movements in the rupee and will continue to engage with the foreign exchange market to ensure the rupee finds its level, its chief Shaktikanta Das said on Friday. The rupee has been hitting a series of record lows in recent weeks and has broken past … Read more
India’s central bank appears to have ramped up intervention in the forwards market to slow the rupee’s decline and preserve its hard-earned reserves. The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April, according to estimates by DBS Bank … Read more
Bullish bets on the Chinese yuan hit their highest since early June as the world’s second-largest economy maintained a strong trade surplus and saw robust portfolio inflows even as growth slowed, a Reuters poll showed on Thursday. Short positions on the Indian rupee were raised to their highest since April 2020, while bearish bets on … Read more
By Ronojoy Mazumdar The rupee’s outperformance last month that turned it into Asia’s best performer may be indicating the central bank’s higher tolerance for a stronger currency with the focus on curbing imported inflation, analysts said. The currency rallied 2% in May, the biggest monthly advance in more than two years, as Covid cases eased, … Read more