The RBI allowed the currency to move both ways, with minimal intervention. There were also flows into the Indian bond market in anticipation of a rate cut on February 7, but dollar demand from foreign banks offset the gains,” said a bond dealer at a private bank. The RBI allowed the currency to move both ways, with minimal intervention. There were also flows into the Indian bond market in anticipation of a rate cut on February 7, but dollar demand from foreign banks offset the gains,” said a bond dealer at a private bank. Economic Times
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