The significant shifts that we have observed were mainly influenced by both the adopted and expected policy stances of major central banks. Initially, growing divergence between the US economy and major trading partners, coupled with increasing trade tensions and perceived higher geo-political risk, placed upward pressure on the US dollar (USD).
Sheetala Deshmukh, and their children, Ashish and Priyanka, Prof. Sunita Chitnis and her son Dr. Ajay Chitnis. Your presence here means a lot to us. Finally, and importantly, a warm welcome to all our invitees to this prestigious lecture. C.D. Deshmukh 2. Sir Chintaman D. Deshmukh has a special place in the history of the Reserve Bank.