RBI takes the first step to check inflation
As I wrote in my post yesterday that the country is eyeing on RBI, yesterday RBI took concrete steps and interfered in the inter-bank currency market in the last trading session.
Rupee got strengthened by 64 paise and the last closing was noted around Rs. 52.70 per USD.
RBI is certainly going to interfere in this matter further as a developing economy like ours can NOT afford to have such a inflation rate. Ideal value of Rs/USD needs to be something around 42-45 INR per USD.
Anything less or more than that is not benificial as per the figures of balance of payments and trade deficits of the country.
Stay Tuned
More to come at this space
