The Indian Rupee has fallen to a new low of 84.8550 against the US dollar, surpassing its previous record. This decline follows the appointment of Sanjay Malhotra as the new Governor of the Reserve Bank of India (RBI), sparking speculation about rate cuts. In response, government bond prices have risen as investors expect a shift towards policies aimed at boosting economic growth. Despite ongoing inflation and slow growth, the outlook for India’s monetary policy is likely to shift under Malhotra’s leadership.
Indian Rupee Hits Record Low, Bond Prices Rise Amid Central Bank Leadership Change
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