![RBI spot intervention, NDF market checks for rupee depreciation](https://market-tracker.in/wp-content/uploads/2023/02/105760445-1551156276225gettyimages-1073361328-1.jpeg)
RBI spot intervention, NDF market checks for rupee depreciation
The rupee has appreciated only 1.14 percent against the dollar since the US Fed raised rates by a quarter point on February 1 thanks in part to Central Bank of India’s intervention in the spot and non-deliverable forward (NDF) markets. Although the dollar index (DXY) increased 3.60% during that time, the currencies of emerging markets…