RBI steps up rupee support as NRI deposits boost firepower
The Reserve Bank of India increased support for the rupee in recent sessions, helping shield it from higher oil prices and rising U.S. Treasury yields as non-resident Indian deposits strengthen central-bank capacity.
By Nimesh VoraThe Reserve Bank of India has stepped up its support for the rupee in recent sessions, shielding the currency from a surge in oil prices and rising U.S.
Treasury yields, with a flood of deposits from non-resident Indians bolstering the central bank's firepower.The rupee FX_IDC:USDINR…