RBI must tap FCNR(B) inflows to break rupee's depreciation loop, says Citibank’s Samiran Chakraborty

Citibank’s Samiran Chakraborty said India’s summer crop sowing is close to last year’s numbers despite a 13% seasonal rainfall shortfall. He noted that food prices have not surged yet, suggesting the El Nino effect might be limited. The RBI also lowered its inflation forecast as the economy shows resilience today.