突然暴跌，紧急“救市”！这国央行出手

Core Viewpoint - The Indian Rupee is experiencing significant depreciation, reaching a historic low against the US Dollar, prompting the Reserve Bank of India to intervene in the market to stabilize the currency [4][5][7]. Group 1: Currency Depreciation - The Indian Rupee fell below the psychological level of 90 against the US Dollar, hitting a low of 90.058, marking a nearly 5% depreciation for the year, making it the worst-performing currency in Asia [5][7]. - The depreciation is attributed to low foreign investment inflows, a record trade deficit, and uncertainties surrounding the US-India trade agreement [4][9]. - As of October 2023, foreign investors have withdrawn over $17 billion from the Indian stock market, exacerbating downward pressure on the Rupee [7][9]. Group 2: Economic Factors - India's trade deficit surged to $32.15 billion in October, the highest in 13 months, primarily due to a significant drop in exports to the US, which decreased by 28.5% from May to October [9][10]. - The cumulative tariff rate on Indian goods by the US has reached 50%, including a 25% retaliatory tariff imposed due to stalled trade negotiations [9][10]. - Economists predict that if trade agreements are not reached, the Rupee may breach the 90 mark by the end of December [10]. Group 3: Central Bank Intervention - The Reserve Bank of India has shown a commitment to prevent further depreciation of the Rupee, with analysts expecting continued intervention to set a cap on the USD/INR exchange rate [7][10]. - The central bank's governor indicated that a 3% to 3.5% annual depreciation of the Rupee is normal, focusing on curbing excessive volatility rather than maintaining a specific exchange rate [10][11]. - The RBI's recent actions reflect a strategy to manage market stability amid ongoing economic pressures and trade uncertainties [5][7].