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RBI Policy
17 Jul 2013
One Rupee Gain Three Rupee Pain and Counting
RBI curtailing liquidity to pull up the Indian Rupee (INR) has caused more pain than gain. The INR gained by one Rupee from levels of Rs 60.20 to the USD to Rs 59.20 while the ten year benchmark bond, the 7.16% 2023 bond price fell by Rs 3. In fact the bond market pain is not over yet while the INR is actually starting to fall again.
Arjun Parthasarathy
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