RBI's shift in monetary policy welcome, say traders
The Reserve Bank of India's (RBI) relaxation of its emergency rupee stabilisation measures this week is well timed, according to market participants, but the currency is still vulnerable to risk.
On October 7, the central bank announced a reduction in its marginal standing facility (MSF) rate by 50 basis points to 9%, and noted it had carried out open market purchase operations worth $1.6 billion to inject liquidity into the system. Since September, the RBI has been rolling back measures
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