GgoogleSG first seen 1 d ago, last 1 d ago, peak #2
India draws a line for the rupee at 97
Original: currency
India's central bank is stepping up its defense of the rupee, with reports describing a line in the sand for the currency at 97 to the US dollar. The Reserve Bank of India is also widening the scope of its forex risk reserve requirements and tightening rules on non-deliverable forwards, moves analysts read as an effort to curb speculative pressure and stabilise the currency.
Why now: The RBI's intensified intervention and new forex rules are fresh news drawing attention to the rupee's slide.
Reserve Bank of IndiaIndian rupeeUS dollarIndia
Rank over time, top of the chart is #1. 17 snapshots from 1 d ago to 1 d ago.
Evidence
- INR/USD: India Draws Line in Sand for Rupee at 97 as RBI Steps Up Defense · Bloomberg.com
- India's central bank widens ambit of forex risk reserve requirement, tightens NDF rules · Reuters
- Development finance needs more than one currency · The Business Times
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