Indian markets were shut Thursday for the Gandhi Jayanti holiday, so the action shifted to the currency side, where the RBI reportedly drew down reserves at a record weekly pace to
Indian markets were shut Thursday for the Gandhi Jayanti holiday, so the action shifted to the currency side, where the RBI reportedly drew down reserves at a record weekly pace to defend the rupee. That intervention lands alongside a large cash surplus in the banking system, keeping the central bank's policy path a live debate ahead of its October meeting. Political protests over voter roll changes continue to generate headlines, though they remain noise for markets so far.
Sources
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