The Reserve Bank of India's (RBI’s) Monetary Policy Committee has hiked the policy rate for the second time in a row. It has also hinted that it will not be averse to hiking again, if inflation doesn't ease off. Pressure on the rupee might now lessen due to a couple of factors.
The US Federal Reserve has kept its policy rates unchanged although it has indicated that it will probably hike in September. So, rupee yields will rise while dollar yields will stay at current levels. The yield differential is in favour of a carry trade investing in the rupee. This could lead to a ...
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