USD/INR Price News: Indian rupee snaps two-day downtrend near 79.00 on RBI rate hike – by anilpanchal7 USDINR CentralBanks Inflation Recession NFP
RBI crossed the market forecast to increase Repo rate to 5.4%.
Following the announcement, RBI Governor Shaktikanta Das mentioned that the domestic economy faces headwinds from global forces. The RBI Boss also announced a downward revision to the Indian Gross Domestic Product figures while saying, “Inflation trajectory continues to be heavily contingent about geopolitical developments.”
Reuters quotes Anindya Banerjee, vice president at Kotak Securities while saying, “Historically, whenever the implied volatility in options has been priced higher ahead of the policy, there tends to be lower-than-expected volatility in the pair ."
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