RBI Policy highlights:
-Repo rate raised by 35 bps to 6.25%.
-FY 22-23 GDP forecast lowered from 7% to 6.8%.
-Inflation for FY 22-23 is expected to be 6.7%.
-FX reserves has risen to 561 bn from USD 527 bn.
-FDI inflows in Apr-Oct period stands at USD 22.7 bn.
-FII inflows is apprx 11.8 bn since July 5 th till date.
-Remittances is expected to climb from USD 89 bn to USD 100 bn this year.
RBI Governor said that GDP growth is robust when compared to Global situation. He said that fight against inflation is not yet over.
USDINR is at 82.48. Rupee declined to 82.76 and has retraced. RBI Governor said that Rupee has gained 3.7% in real terms in 1 year time
frame. He exuded confidence that CAD can be managed comfortably with inflows. He also said that once Fed hints at terminal rate, inflows is
expected to be robust and reserves will climb again.
Nifty is down marginally.
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