Page 16 - Bullion World Issue 6 October 2021_Neat

Bullion World | Issue 06 | October 2021

Update on INR

and Gold Spot

Mr. Ram Pitre
Equity, Commodity & Commodity Strategist at
ECOFIN CONSULTANT LLP

Today’s coiling is tomorrow’s breakout. The Indian rupee’s Renewed rupee weakness at the end of September was driven
weakness in September was partly driven by suspected RBI by US dollar strength amid higher UST yields as investors start
intervention as reported by Interbank Dealers, after it hit pricing in prospects of a faster pace of QE tapering by the
as high as 72.920 against the US dollar on 1st September. Federal Reserve.

16