💨 Abstract

The Reserve Bank of India is suspected to have intervened to support the Indian rupee ahead of a monetary policy decision on Friday. State-run banks were seen selling dollars in the local spot market, causing the rupee to strengthen before the market opened. The dollar index remained unchanged, while other Asian currencies rose. The RBI is expected to cut rates by 25 basis points.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖