RBI will buy to raise import cover

Reserve Bank Of India Will Defend Rs65/USD: BofAML

Although Reserve Bank of India will extend only a token resistance at Rs 64/USD, the central bank is expected to sell $15 billion to defend Rs65/USD levels, notes BofAML.

In their “India Economic Watch” research report published on July 31, 2015, analyst Indranil Sen Gupta and colleagues at BofAML anticipate the RBI to raise the FPI G-sec limit by about $5-6 billion on September 29 if the exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here

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