The rupee Friday saw its steepest intraday decline since March 2023 to 85.80 per US dollar before erasing some losses to close at another all-time low of 85.53/$1. The local unit, which hit fresh lows on 8 straight trading days, retreated on domestic factors amid what some analysts described as its estimated ‘overvaluation’ relative to … Read more
The Indian rupee closed at a record low of 84.0725 against the US dollar on Monday, pressured by outflows from local equities and debt and a stronger dollar index. However, likely RBI intervention in the form of dollar sales reigned in losses for the rupee, traders said. Outflows caused by Hyundai routing back funds to … Read more
Digital lending apps: A recent survey has found that the Reserve Bank of India’s (RBI) steps against loans being offered by unauthorised digital platforms and mobile applications had a positive impact on users. In 2020, the central bank released a cautionary message directed towards small businesses and individuals regarding the risks associated with obtaining loans … Read more
Massive interventions by the Reserve Bank of India (RBI) to contain the value of the rupee may not impact the independence of monetary policy, though it can have an impact on the money supply in the system, a study by the central bank said. Forex market interventions during surges in capital flows to contain the … Read more