Daily turnover of forex market in india
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That may be setting up the market for a rude shock. Patel has already provided one surprise—an interest-rate cut that Nomura Holdings Inc. If and when the turn comes, will people fly faster?
The central bank calls currency desks inquiring about the kind of inflows they are seeing or why they are buying or selling dollars when rupee moves appear unusual, according to two traders, who asked not to be identified citing rules.
While the RBI never announced a policy change, its presence in the market has been increasingly hard to ignore. In January and February, when the rupee fell 3.
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It was also said to have sold dollars after India attacked terrorist camps in Pakistan last month. Expected rupee swings over three months fell to an eight-year low of 5.
It traded at Buying the Indonesian rupiah delivered a 4. Prime Minister Narendra Modi has accelerated the reform process and vowed to lower the budget deficit.
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Currency markets will soon face further uncertainty as the US presidential elections approach and amid rising odds of a Fed rate increase by December that has already put emerging-market currencies under pressure. Home Companies Industry Politics Money Opinion Lounge Multimedia Science Education Sports More Technology Consumer Specials Mint on Sunday.
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The Indian rupees average daily trading range has been about Re0. Big Daddy Currency market RBI Traders India.
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