Global turmoil may restrict domestic impact, say economists
Global spillovers in 2024 can create volatility but the runaway depreciation of the Rupee may not happen as narrowing deficit have made the currency resilient. The Reserve Bank is also equipped with a strong armoury of foreign exchange reserves of over $ 600 billion to defend the rupee compared to $292 billion in 2012-13 adding to the market perception that RBi is being extra vigilant.
Suman Chowdhury Neelkanth Mishra Rahul Bajoria Axis Bank Ratings Research Real Effective Exchange Rate
Source: indiatimes.com