all-time low with USDINR exchange rate at 69.00 INR. The economy has since been on the road to recovery with the government working to liberalize its market by implementing more open policies on investment and trade. The RBI has adopted a relatively loose monetary policy to aid economic ...
This article examines interlinkages between four major exchange rates, namely, USD–INR, EUR–INR, GBP–INR and JPY–INR in terms of returns and volatility spillovers using a vector autoregressive-multivariate GARCH–BEKK framework. In addition, we analyse the impact of RBI intervention on the ret...