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Aug 25 - 03:55 AM

EUR/USD - REFILE-BUZZ-India's Intervention May Have A Big Impact On EUR/USD

By Jeremy Boulton  —  Aug 25 - 02:30 AM

Changes INR to RBI

  • There has been a period of heightened intervention to control INR

  • During this time it's estimated RBI purchased 30 billion dollars

  • RBI often rebalances intervention. USD's purchased sold to buy EUR

  • RBI may also buy other currencies. Active in GBP or JPY markets

  • Both EUR/USD and GBP/USD appreciated significantly during USD/INR stasis

  • Seems RBI is now allowing INR to trade freely nL1N2FR03Q

  • A CNH rise gives RBI more room to allow INR to rise nL1N2FR08L

  • A higher INR will help curb inflation nL8N2FM3Z1



USD/INR vs EUR/USD and cable Click here

Source:
Refinitiv IFR Research/Market Commentary

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