INR 75 risk

All about India and the RBI blinking with INR risk for further depreciation

The RBI blinking on rates today matters in India - stocks aren't going up with a weaker INR but down. The fear of a Turkey like blow up is rising. Effect of higher energy prices, worsening C/A and the higher inflation risk from 15% INR devaluation is leading to a risk for a test of 75. Throw in the Russia Putin meeting today and a $5bn nuclear deal and you have US sanction risks to add to the pot

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