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US puts India on currency manipulator watchlist SECTIONS Last Updated: Apr 20, 2021, 07:33 AM IST Share Synopsis This is the second time since the start of the pandemic that India has figured on the list, even as the Reserve Bank of India has purchased large quantities of dollars on account of huge capital inflows. Buying excessive dollars tends to suppress the real value of the currency. Related NSE Explore Now Mumbai: The US treasury department has placed India on a watchlist of currency manipulators, citing the central bank’s dollar purchase that it said at 5% of the GDP exceeded the 2% threshold, and India’s large trade surplus with the US. ....
America retains India in currency manipulator watch list due to huge dollar purchases SECTIONS Share Synopsis In addition India has had a trade surplus with the United States. But Reserve Bank s official stand has always been that it would continue its intervention to avoid any undue volatility in the currency market. Getty Images The US treasury department has retained India in the currency manipulator watch list in its semi-annual report submitted to the Congress since COVID-19 induced global lockdown since March 2020. The reason being higher dollar purchases by RBI of close to 5% of GDP large on account of huge capital inflows, which is higher than its threshold of 2% of GDP. ....
Reverse repo rate at 3.35 percent. RBI continues with its accomodative stance. Mumbai: The Reserve Bank of India is widely expected to keep key interest steady on Wednesday amid a surge in COVID-19 cases in the country, but may revise its inflation projections higher. In a Reuters poll, 65 of 66 economists surveyed said the RBI`s monetary policy committee (MPC) will leave rates unchanged. We expect the MPC to come up with another dovish pause on Wednesday, especially with Covid-19 cases rising, said Indranil Sengupta, an economist at Bank of America Securities. The RBI`s focus will remain on funding the rising fiscal deficit without pushing up yields to the point it hurts the (economic) recovery, he added. ....