Domestic, global headwinds challenge RBI's forex intervention efforts

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Domestic, global headwinds challenge RBI's forex intervention efforts - Business Standard

Quick Summary:

But for two years, it has been the least volatile Asian currency, barring the pegged Hong Kong dollar.

Moreover, India's forex reserves are at a five-month low after the RBI sold $38 billion, per IDFC FIRST Bank's estimate, between October and the first week of December.

For instance, in the NDF market, the RBI's go-to strategy, the central bank's position has ballooned to levels that make it difficult to use as frequently.