Rock-steady rupee offers stability during US election uncertainty
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The Indian rupee is stable amid US election volatility; supported by RBI's strong foreign exchange reserves; no clear leader in US presidential race between Kamala Harris and Donald Trump; hedging costs at highest since early 2020; RBI sold US$10.8 billion to defend rupee; rupee hit record low of 84.1087; RBI governor Shaktikanta Das emphasizes importance of reserves; India's current account deficit manageable at slightly over 1% of GDP; dollar-rupee one-week implied volatility at 3.5250%.
#IndianRupee #UsElections #Rbi #CurrencyStability #ForeignExchange #KamalaHarris #DonaldTrump #Volatility #EconomicPolicy #EmergingMarkets
https://theedgemalaysia.com/node/732639
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