Indian rupee strengthens on rate cut

India remains a ray of sunshine amid cloudy emerging markets

india

In a surprise move the Reserve Bank of India (RBI) cut the country's interest rate by 50 basis points (bp) on September 29. While the reduction in India's policy repo rate from 7.25% to 6.75% – the fourth cut made by the RBI in 2015 and the largest by far – was largely unexpected by the market, the rupee strengthened on the news.

Mallika Sachdeva, Asian FX strategist at Deutsche Bank, says the bank's view was for a cut of 25bp, but that from a strategy perspective the monetary easing is actually

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: