Will the rupee's sudden reversal change the course of your investments? The Indian currency's dramatic turnaround after the Reserve Bank of India's (RBI) intervention has left many wondering what's next.
The rupee surged to an intraday high of 89.75 per dollar from near 91, only to ease to around 90.28, as foreign outflows, trade-deal uncertainty, and policy signals kept investors on their toes.
In a volatile trading session, the RBI sold dollars heavily in the spot and non-deliverable forward (NDF) markets, mirroring its interventions in October and November that disrupted the persistent depreciation.
Bankers believe the central bank's move was aimed at arresting the one-way slide, but the big question is: what does this mean for the Nifty, Sensex, and Bank Nifty? Historically, the RBI's interventions have been followed by a period of consolidation, and this time may not be different. The Nifty's technical charts suggest a potential reversal, but it's crucial to consider the broader market context.
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