RBI battles currency shock, worry over March import bill & coal supply stress
RBI battles currency shock, worry over March import bill & coal supply stress
After a volatile start driven by war jitters, markets staged a sharp late rebound, aided by value buying and a record rupee surge following RBI’s clampdown on speculative currency trades that may have unwound up to $40 billion.
Yet, macro pressures persist, with West Asia tensions set to inflate India’s import bill. Stress is also emerging in the power sector, as coal shortages hit coastal plants ahead of peak summer demand. Meanwhile Crude again has reached 109$(Brent) and even the WTI crude has crossed Brunt Crude now.
Stock on radar