Fixed Income And Currency Market
15 May 2022
INR fell to record lows against the USD last week and RBI had to sell USD to support the INR from falling too fast. Record government borrowing, high inflation and rising global bond yields are driving money out of risk assets. A weak INR with high inflation will force RBI to raise interest rates sharply higher and this can take up 10-year G-sec yield to over 8% levels.
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