USD/INR Price News: Indian rupee consolidates recent losses near 75.50 on RBI, Inflation chatters By anilpanchal7 USDINR RiskAppetite CentralBanks Politics Inflation
The quote refreshed a two-month high the previous day but ended up printing a bearishformation below an upward sloping trend line from early January. The reason could be linked to the broad risk-off mood, as well as mixed concerns over the Reserve Bank of India’s next step.
“Warning the markets before the data release, Shaktikanta Das, RBI governor, said the uptick in annual inflation should not create any panic and the central bank remained committed to its inflation mandate,” Reuters said. Thealso mentioned, “Forced to choose between soothing bond markets grappling with runaway yields fuelled by the government's expansionary budget or fighting inflation, the central bank has opted for the former, as it continues to prioritize growth.
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