Swati Bhat

MUMBAI (Reuters) -India's central bank is changing tactics in the way it seeks to limit rupee volatility with the use of non-deliverable forwards now overtaking spot market interventions, which draw heavily on foreign exchange reserves, sources said. The Reserve Bank of India (RBI) has traditionally been more active in the local over-the-counter (OTC) spot market to keep the rupee stable. Dollar sales by the RBI in the spot market to slow rupee depreciation can draw heavily on reserves, while selling in the NDF market has a relatively marginal impact, the sources said.

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai

Monetary Policy Committee Friday kept the repo rate unchanged at 6.50% for an eighth straight policy meeting, in a continued attempt towards bringing down inflation to 4% target.

By Swati Bhat and Ira Dugal MUMBAI (Reuters) -India's central bank said on Monday the country added 46.7 million jobs in the fiscal year

By Ira Dugal and Swati Bhat MUMBAI (Reuters) - The Indian central bank's rate setting panel faces another food-driven spike in inflation as

By Swati Bhat MUMBAI (Reuters) - India will have to adopt a more cautious approach to monetary policy if high food prices persist and threaten

India's newly-appointed monetary policy committee members may see at least one dissenter calling for a rate cut when the group meets next week, several economists said in separate research notes this week.

Swati Bhat 3-min read By Swati Bhat MUMBAI (Reuters) - India's central bank is likely to keep rates steady on Wednesday, with

India cannot risk another bout of inflation and the monetary policy committee (MPC) must adopt a cautious approach to lowering interest rates, members of the rate-setting panel said in the minutes of the October meeting.

India's central bank is well-equipped to deal with a potential sudden outflow of foreign funds and any steep fall in the rupee if Republican candidate Donald Trump wins next week's U.S. presidential election, two sources familiar with the bank's thinking said.