Daily Digest Market Movers: Indian Rupee remains sensitive to inflation and geopolitical risks
- India's foreign exchange reserves fell for the second week in a row, reaching a two-month low of $616.10 billion on February 16, according to the Reserve Bank of India.
- The RBI revised its growth forecast for the Indian economy to 7% for the current fiscal year, an increase from its earlier forecast of 6.5%.
- The RBI’s Monetary Policy Committee agrees on the need for caution amid uncertainties, while being optimistic about growth.
- The Indian economy, which grew at a four-month high in January, expanded further in February, with accelerations in both the manufacturing and services sectors.
- Fed Governor Christopher Waller said the Fed should delay interest rate cuts by at least a few more months to see more evidence of inflation data
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