Breaking: India Just Intervened to Save Its Currency

#finance
#financement

India just attracted an extraordinary amount of foreign money into its banking system. And yet the rupee is moving back toward its record low. Then there’s Japan. The Bank of Japan just raised its policy rate to the highest since 1995. And yet the yen is approaching 160 per dollar again.

So India attracted dollars and the rupee still fell. Japan raised rates and the yen still fell.

Meanwhile, China has done almost the opposite. And so has CNY.