The USD/INR plunged as the US dollar index crashed to the lowest level in 7 months. Inflation plummeted for six straight months while retail sales dropped. A mild recession may be on the horizon as companies like Microsoft, Google, Salesforce are laying off thousands of employees. As a resu...
The estimation results suggest that RBI intervention in the form of net purchase of dollars leads to depreciation of INR vis-à-vis USD, EUR, GBP and JPY. Furthermore, we find that RBI intervention not only significantly affects the volatility of INR vis-à-vis USD, EUR and GBP but also...