Gold outperforms equities for the 4th consecutive Diwali cycle
MCX gold soared around 40%, while the Nifty 50 rose nearly 5% in the same timeframe; yellow metal outperformed equities in seven of the last eight years
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New Delhi: As the Indian rupee fell below the 88 mark against the US dollar amidst tariff concerns and FII outflows, Reserve Bank of India is likely to intervene to manage excessive volatility, a report said on Wednesday.
CareEdge Ratings, in a report, maintained its FY26-end USD/INR forecast at 85–87, supported by a soft dollar, a firm yuan, India’s manageable current account deficit, and the prospect of a US–India trade deal.
“India’s forex reserves remain healthy at around $703 billion, near an all-time high, giving the RBI scope to intervene in the currency market and curb currency volatility if needed,” the ratings agency suggested.
