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India’s central bank kept rates steady at record low levels as expected on Friday and said it would maintain support for the economy’s recovery from the pandemic by ensuring ample liquidity
Sustained foreign inflows along with a slew of upcoming IPOs are expected to strengthen the Indian rupee during the week ahead. Accordingly, these factors are expected to push the rupee beyond its current 52 week high mark.
India’s foreign exchange reserves rose by $4.344 billion during the week ended April 9. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $581.213 billion from $576.869 billion reported for the week ended April 2.