India gaining momentum amid global uncertainty with moderating inflation, less volatile rupee: RBI Bulletin
India is gaining momentum amid global uncertainty with easing inflation and less volatile rupee, the Reserve Bank of India (RBI) said its October bulletin.
«In India, a broad-based gaining of momentum is discernible in high frequency indicators. Deleveraging and higher capacity utilisation have enabled capital-heavy industries to gain traction.
The Indian rupee (INR) is exhibiting low volatility. Inflation has moderated from its July peak, bolstering macroeconomic fundamentals,» the bulletin released on Thursday said.
The report also said that the rupee has exhibited low volatility and orderly movements relative to peers in spite of the elevated US treasury yields and a stronger US dollar. Movements in the rupee are consistent with the strength of the underlying macro-fundamentals and the reassuring availability of buffers.
