Rupee's stability provides resilience amid uncertainty of US elections

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Rupee's stability provides resilience amid uncertainty of US elections - Business Standard

Quick Summary:

"The RBI remains strongly in the market to cap FX volatility and FX reserves are more than adequate," said Michael Wan, senior currency analyst at MUFG Bank.

Traders have ramped up their search for havens, analyzing latest polling data that shows no clear leader in the race between Kamala Harris and Donald Trump before Tuesday’s vote.

The Mexican peso, often considered an emerging market bellwether to US polls, has seen volatility surge to a four-year high.