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Undervalued, By Which Yardstick?
Currency Desk · INR Undervalued, By Which Yardstick? Three Questions the Rupee Market Is Asking The October MPC said the rupee may be undervalued.…
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RBI draws a line at 97: smart plumbing, risky controls
Macro Economy · RBI Watch RBI draws a line at 97: smart plumbing, risky controls An OMO sale, a tighter CRR floor, a dollar…
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October MPC: The Hike Is Priced — Liquidity Is the Real Trade
Macro Economy · RBI Policy Preview · 6 Oct 2026 October MPC: The Hike Is Priced — Liquidity Is the Real Trade A 25…
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When Central Banks Print, Currencies Move
Exchange rates follow money. Over two decades of RBI and Fed balance sheet data, one relationship holds with striking consistency — when RBI prints…
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The $127bn Hangover
RBI won the dollar battle. The way it is mopping up the rupees may cost it the BoP war. Reserves are at $780bn, a…
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Desk Diary: The Day Fixed Income Traders Won’t Forget in a Hurry
Gap-down open, a failed VRRR, an RBI TV byte that gutted the 5-year — and RBI’s punishment
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The $127 Billion Magic Trick: How RBI Bought Time, and What It Cost
Every good magic trick has a moment where the audience forgets to ask “wait, how?” This is that question, answered. The Set-Up Picture the…
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RBI Buys Time with a $5 Billion FX Swap
RBI has signalled another round of “liquidity via FX” by announcing a fresh USD/INR FX swap of around USD 5 billion, effectively repeating the…
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The Unknown Man in the INR Market
The Usual Suspects Are Incomplete Every rupee selloff gets the same explanation — crude, FPI outflows, and offshore NDF demand. But here is what…
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“India Keeps Buying Gold. Maybe Households Are Right and Economists Are Wrong.”
Every few years, India rediscovers gold.Fund managers float new ideas to “monetise idle gold”, TV debates run temple‑gold numbers, and even the Prime Minister…