RBI support stabilizes rupee amid widening trade deficit
pre-market1 source ↓written by the desknot a recommendation
- in July
- $31.98 bn
- in June
- $30.4 bn
- of non-resident inflows
- $2.5 bn
- YoY in July
- 4.45%
The Indian Rupee is receiving support from the RBI as the trade deficit widened to $31.98 bn in July from $30.4 bn in June. The RBI's active participation in FX markets and $2.5 bn of non-resident inflows into Indian Government Bonds have helped stabilize the currency despite rising oil and gold prices.
This support is crucial as inflation remains a concern, with CPI rising to 4.45% YoY in July, reinforcing the RBI's decision to maintain current policy settings.
Not investment advice. For informational purposes only.