India's central bank raises rates for first time since 2023 amid rupee pressure

India's Reserve Bank (RBI $RBI) has raised its policy rates for the first time since 2023, signalling tightening monetary conditions as USD/INR $USDINR hits record highs. Stop-loss orders are amplifying rupee weakness across emerging Asian markets, forcing investors to reassess currency exposure.

The move reflects broader challenges in the region as central banks grapple with persistent US rate pressure and capital outflows, heightening volatility in emerging-market currencies.

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