RBI may loosen rupee grip on yuan moves due to India's large trade deficit with China.
Traders debate if RBI will loosen rupee grip on yuan moves due to recent yuan volatility causing rupee to slide to a record closing. Indian traders and analysts were caught off guard as the currency traded within a tight range. RBI may face pressure to loosen its grip over the currency due to India's large trade deficit with China and to preserve export competitiveness, supporting PM Modi's manufacturing goals.
April 01, 2024
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