..............“What if the Fed tapers more than $ 20 billion? This should trigger RBI FX intervention to prevent sharp depreciation, although the INR will likely still pierce Rs65/$ again,” Indranil Sengupta, India Economist at Bank of America Merrill Lynch said. If the tapering is deferred, then RBI is expected to withdraw the liquidity tightening measures that it had started since July 15.
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