DBS Bank of Singapore expects the Reserve Bank of India (RBI) to keep intervening to keep the rupee stable. RBI has been net buyer of US dollars in three months during Jan-May 2016 - absorbing short-term inflows and keeping the rupee in sync with regional movements. RBI is likely to continue with net intervention purchases in Jul 2016 as the rupee strengthened past 67 to a dollar.
Copyright (c) 2016 . Informatics India Ltd., source Indian Business Insight