RBI Dollar Inflows Boost Stakes in Inflation Fight
India's central bank's successful efforts to attract dollars have bolstered foreign exchange reserves and defended the rupee. The stronger-than-expected inflow of $133 billion is now increasing the case for a more hawkish monetary policy stance.
Just months ago, India’s central bank took all the measures it could to attract dollars, strengthen its foreign-exchange reserves and support the rupee. That stronger-than-expected flood of cash is now strengthening the case for a more hawkish monetary policy stance. The record $133 billion inflow from the Indi…