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via fxstreet.comEconomy

Indian rupee: intervention concerns shape outlook, says Societe Generale

FROM THE WIRE · FXSTREET.COM

Societe Generale strategists note USD/INR remains below 95 in Asia after a 1.9% rally last week, supported by Reserve Bank of India (RBI) measures for Oil importers and speculation curbs. They highlight reported US Dollar (USD) selling by state-run banks and warns RBI’s direct…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralRBI intervention and sharply lower FX reserves can influence the dollar-rupee exchange rate.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01USD/INR remains below 95 in Asia after a 1.9% rally last week.
  2. 02The RBI adopted measures for oil importers.
  3. 03FX reserves dropped sharply and INR shorts are at multi-month highs.

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