Brazil is cutting rates for a fourth straight meeting even as Brent crude tops $100, the opposite of the usual emerging-market response to an oil shock. India's record $785.7bn reserve buffer is buying it the same room to ignore it.
India’s FX reserves hit a record $785.7 billion after a $45 billion weekly jump, extending a 10-week streak as RBI swap facilities and NRI inflows offset rupee-support intervention. Source
