EXPERTS BELIEVE THAT the RBI may intervene less in the spot market and much more in the over-the-counter market. The central bank has already built significant positions in the NDF market, which is why OTC would be its preferred option. The rupee has depreciated from levels of 84 to 85 in just months, while moving from 83 to 84 in 14 months. The dollar index, which measures the greenback's strength against the basket of six major currencies, was trading slightly higher at 108.1 amid rising US Treasury yields, which rose to 4.61%.
This story is from the December 28, 2024 edition of Financial Express Lucknow.
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This story is from the December 28, 2024 edition of Financial Express Lucknow.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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