Core Viewpoint - The Reserve Bank of India (RBI) has unexpectedly lowered interest rates, leading to a decrease in the forward premium of the US dollar against the Indian rupee [1] Group 1 - The RBI's decision to cut interest rates was beyond market expectations, indicating a shift in monetary policy [1] - The reduction in interest rates is likely to stimulate economic activity by making borrowing cheaper [1] - Following the rate cut, the forward premium of the US dollar against the Indian rupee has declined, reflecting changes in currency market dynamics [1]