Open trading account 
Good news to see significant rebounds in the value of the Indian Rupee and the Sensex after the appointment of the new Governor. The currency move will have been accentuated by a nicely orchestrated piece of intervention, sensibly timed to make the most of a change in circumstances. As I have emphasised before, intervention timed like this is effective because it backs up other factors that the market consider positive, and the first actions of this technocrat Governor have provided that boost. …
annatimone's Blog
Intervention in India
I find it sad that FX intervention has to be reached for in India. When reserves are finite, and the numbers are in the public domain, it is very difficult to see this strategy working successfully on its own. Intervention can really only be justified as a viable option when it can buy time for the fundamentals that are causing the selling, to change; but, the authorities are under huge pressure to ramp up their response to the crisis, and their options are limited. OR... you could hopefully ha…