Rupee Forex Market & the interventions by Reserve Bank of India
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i would agree to a certain extent that RBI’s intervention might only remain limited. But the fact that it is indicating that it might not intervene significantly is pushing the dollar further higher. Also given the liquidity situation if it plans to intervene and that to in a significant manner then it has to be accompanies by CRR cut or else we might add to the already significant woes.
RBI intervention must be but not frequently.
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