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Fixed Income And Currency Market

12 Sept 2022

INR steady despite sharp drop in fx reserves

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India’s forex reserves have dropped by over 15% from peaks to USD 540bn on the back of rising trade deficit and RBI fx sales. However, improved FII inflows into equity and prospects of debt flows on the back of gsecs inclusion in EM bond indices have helped the currency to stabilize.

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Subhasis Mishra
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