As the Iran war continues to disrupt the global economy, countries are increasingly activating crisis playbooks to counter the fallout from inflation and currency depreciation, as well as equity market volatility.
Closer home, with the rupee among the worst-performing Asian currencies, the Reserve Bank of India has rolled out a fresh set of measures to stabilise the currency.
In a late-night announcement on Wednesday, the central bank introduced multiple steps to support the rupee. Last Friday, it capped the net open rupee position of banks at $100 million, replacing the earlier rule that allowed positions up to 25% of capital. Days later, it barred banks from offering rupee non-deliverable forwards (NDF…
Read More:
https://www.moneycontrol.com/news/business/rbi-just-activated-rupee-crisis-plan-what-india-did-to-battle-2013-taper-tantrum-1997-asian-financial-crisis-13877785.html
