Sanjeev Sanyal, principal economic adviser at the Indian Finance Ministry said in an interview on Wednesday, the Reserve Bank of India (RBI) has further scope to cut rates as inflation is set to decline in coming months Key quotes (via Reuters) Inflation is likely to fall by at least 100 basis points and that easing interest rates is one of the tools available to shield the Indian economy from the impact of the coronavirus. Underlying inflation pressures are within control and headline inflation will come down sharply. USD/INR closes the bearish opening gap The USD/INR cross reversed sharply from a dip below 73.00 and resumed the recent bullish momentum to renew 15-month high at 73.607, where it now wavers. The spot opened with a 23-pips bearish gap, mainly driven by the overnight sell-off in the US dollar across the board, in the wake of the emergency Fed rate cut led collapse in the US Treasury yields. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Further measures in Indonesia to maintain stability – UOB FX Street 3 years Sanjeev Sanyal, principal economic adviser at the Indian Finance Ministry said in an interview on Wednesday, the Reserve Bank of India (RBI) has further scope to cut rates as inflation is set to decline in coming months Key quotes (via Reuters) Inflation is likely to fall by at least 100 basis points and that easing interest rates is one of the tools available to shield the Indian economy from the impact of the coronavirus. Underlying inflation pressures are within control and headline inflation will come down sharply. USD/INR closes the bearish opening gap The USD/INR cross reversed sharply from a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
