BNY’s Geoff Yu notes that India’s bonds sold off after the Reserve Bank of India (RBI) unexpectedly advanced closure of its special Dollar deposit window to end-August. The change reduces anticipated Indian Rupee (INR) liquidity, lifts 5-year and 10-year yields, and may slow reserve accumulation and Rupee appreciation as authorities grow wary of future liabilities and forward-premium costs.
Currencies
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US Dollar Tumbles as ‘Sell America’ Trade Returns | USD Forecast 06 August 2026
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