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INR
Indian Rupee (USD/INR)
94.808
+0.35% (+0.333)
Market read
The RBI's fundraising haul, well above expectations, signals a stronger war chest to defend the rupee. This could make the central bank more confident intervening against future currency pressure. Next up: MBA 30-Year Mortgage Rate.
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India's rupee jumped to a more-than-one-month high on Thursday after the RBI raised far more through fundraising measures than markets had expected, to bolster its intervention reserves.
The RBI's fundraising haul, well above expectations, signals a stronger war chest to defend the rupee. This could make the central bank more confident intervening against future currency pressure.
Jin10·09/03, 10:40 AM
Low impactIndia's rupee strengthened on Thursday, rising as much as 0.7% to a more-than-one-month high, after the RBI raised $136 billion through fundraising measures far exceeding market expectations to bolster its intervention reserves.
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