India’s $133 Billion Cash Deluge Puts RBI on Hawkish Path
India's central bank is facing pressure to adopt a more hawkish monetary policy following a significant influx of foreign currency reserves.
Just months ago, India’s central bank pulled out all the stops to draw in dollars to bolster its foreign-exchange reserves and defend the rupee. The stronger-than-expected deluge of cash is now adding to the case for a more hawkish monetary policy stance.
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