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India's Rupee Rescue Is Getting Desperate
Original: India’s Rupee Rescue Is Getting Desperate
India is stepping up efforts to defend the rupee, with Bloomberg reporting that the currency rescue operation is becoming increasingly desperate as the currency faces sustained pressure. Authorities have reportedly been intervening to stabilise the rupee, which has been sliding against the dollar amid global dollar strength and capital outflows. The report has drawn attention to how much strain India's defences are under.
Why now: The rupee's continued weakness is raising concerns about India's foreign exchange reserves and the sustainability of official support.
IndiaIndian rupeeReserve Bank of IndiaBloomberg
Evidence
- India’s Rupee Rescue Is Getting Desperate · Bloomberg.com
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