Currency Corner by Kotak Neo
@CurrencyCornerByKotakNeo
Currency Corner by Kotak Neo
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India recorded a current account surplus in Q4 FY24 primarily due to significant US Dollar purchases during the January-March period. This prevented the Rupee from appreciating against the USD despite the latter's weakness in global markets.
The Reserve Bank of India (RBI) intervened heavily in the spot market, absorbing 73% of the total capital inflows in FY24. This intervention prevented the Rupee from appreciating and helped maintain a stable current account balance.
The Reserve Bank of India (RBI) intervened heavily in the spot market, absorbing 73% of the total capital inflows in FY24. This intervention prevented the Rupee from appreciating and helped maintain a stable current account balance.
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