Fixed Income And Currency Market

7 Feb 2021

INR shrugs off high fiscal deficit and CRR rate hike to trend higher

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INR shrugged off 2 major negative factors to close last week on a stronger note. The government showed a high fiscal deficit in its budget for fiscal 2021-22 while the RBI hiked the CRR of banks to sterilize excess liquidity. Markets focused on the growth optimism on the Indian economy, as it bought into the INR.

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Ketan Verma
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