In hawala universe, it's a partial eclipse of dollar

This news highlights an anomaly in informal forex channels, which can indirectly influence official forex markets and INR stability. Reduced informal inflows might put slight pressure on the INR or shift demand to formal channels.

• •Indian money market's hawala sector shows an unusual discount on the dollar-rupee exchange rate.
• •This shift is attributed to stalled flights and reduced trade with the Gulf.
• •The informal market is operating 1-2% below official rates, impacting informal remittance channels.
• •Risk flag: Uncertainty regarding the duration of reduced trade/travel with Gulf.
• •Risk flag: Potential for increased scrutiny on informal remittance channels by authorities.