According to them, even though dollar inflows continue to be robust, sterilization operations by the Reserve Bank of India (RBI) to avoid any sharp appreciation in the rupee will push down the local currency.
Moreover, the policy statement released by the government through the mid term economic policy review has stressed the fact that exports are going to be hit if the rupee continues to go up against the US dollar.
The review put out by the Crisil Centre for Economic Research went a step ahead and said exports will go down and imports
