Real Effective Exchange Rate of Rupee spikes in November
The Reserve Bank of India (RBI) in its report highlighted that the Real Effective Exchange Rate (REER) of the Indian Rupee increased to 108.14 in November 2024 from 107.20 in October 2024.
The Reserve Bank of India (RBI) in its report highlighted that the Real Effective Exchange Rate (REER) of the Indian Rupee increased to 108.14 in November 2024 from 107.20 in October 2024.
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
In a significant move to support the agricultural sector and address rising input costs, the Reserve Bank of India has announced an increase in the limit for collateral-free agricultural loans, including loans for allied activities.
India's forex reserves dropped by USD 3.235 billion to USD 654.857 billion for the week ending December 6.
Under this Framework, the Reserve Bank of India would enter bilateral swap agreements with the central banks of SAARC countries, who want to avail of the swap facility.
The benchmark indices closed at fresh record highs on Tuesday led by gains in banking and IT stocks coming a day after RBI data showed the current account surplus stood at USD 5.7 billion.
According to the data released by the RBI, for FY24, the current account deficit narrowed to USD 23.2 billion or 0.7 per cent of GDP against USD 67 billion or 2 per cent of GDP in FY23.
The recent statements from the Reserve Bank of India (RBI) highlight a critical challenge that the Indian economy faces: high food prices obstructing the path to stable inflation.
They also favoured change in the policy stance from withdrawal of accommodation to neutral.
