FOREX BUYING

BE/RBI/18/2017

RBI contemplates to increase the foreign exchange (FOREX) buying and proposes to cut 25 Basic points in interest rate on 2nd August 2017.

BofAML (Bank of America Merrill Lynch), the global financial services, is likely to take back the liquidity from September this year, which means, RBI should be able to recoup forex reserves.

Also, RBI statement confirmed that a 25 bp or 0.25 percentage point rate cut in August this year is a possibility, since the next Fed hike would come up only in December.

Author: Admin Bankedge

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