{"id":59009,"date":"2026-02-24T00:08:32","date_gmt":"2026-02-24T04:08:32","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-rbi-defends-rupee-at-91-as-panasonic-exits-us-tv-market\/59009\/"},"modified":"2026-02-24T00:08:32","modified_gmt":"2026-02-24T04:08:32","slug":"global-markets-rbi-defends-rupee-at-91-as-panasonic-exits-us-tv-market","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rbi-defends-rupee-at-91-as-panasonic-exits-us-tv-market\/59009\/","title":{"rendered":"Global Markets: RBI Defends Rupee at 91 as Panasonic Exits US TV Market"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The Reserve Bank of India (RBI)<\/strong> is actively intervening in currency markets to defend the <strong>Rupee (INR)<\/strong> at the psychologically critical <strong>91 per dollar<\/strong> level.<\/li>\n<li><strong>Panasonic (<a href=\"\/stock\/PCRFY\">PCRFY<\/a>)<\/strong> has officially announced its exit from the <strong>U.S. television market<\/strong>, transferring its sales operations to Chinese rival <strong>Skyworth Group<\/strong>.<\/li>\n<li><strong>Chinese Government Bond<\/strong> yields have reached historic lows, with <strong>3-year bonds<\/strong> selling at <strong>1.32%<\/strong> and <strong>10-year bonds<\/strong> at <strong>1.75%<\/strong> amid a &quot;moderately loose&quot; monetary stance.<\/li>\n<li><strong>China\u2019s Spring Festival<\/strong> recorded a massive surge in mobility, with the <strong>National Immigration Administration<\/strong> reporting <strong>17.8 million<\/strong> cross-border arrivals and departures.<\/li>\n<li><strong>Piper Sandler<\/strong> has issued a bearish update on <strong>Beyond, Inc. (<a href=\"\/stock\/BYON\">BYON<\/a>)<\/strong>, the parent of Bed Bath &amp; Beyond, cutting its price target to <strong>$8<\/strong> from <strong>$10<\/strong>.<\/li>\n<\/ul>\n<h2>Currency Markets: RBI Defends the 91 Handle<\/h2>\n<p>The <strong>Indian Rupee (INR)<\/strong> faced intense pressure today, prompting the <strong>Reserve Bank of India (RBI)<\/strong> to intervene aggressively. Traders reported that the central bank likely sold <strong>U.S. dollars<\/strong> in both the spot and non-deliverable forward (NDF) markets to prevent the currency from sustaining a break past the <strong>91.00<\/strong> mark.<\/p>\n<p><em>Market sentiment remains fragile<\/em> due to a combination of high oil prices and persistent capital outflows. Analysts suggest the <strong>RBI<\/strong> is prioritizing volatility management, though the heavy use of forward contracts may create &quot;maturity-related pressure&quot; in the coming months.<\/p>\n<h2>Corporate Shifts: Panasonic Handover and Retail Downgrades<\/h2>\n<p>In a major shift for the consumer electronics sector, <strong>Panasonic (<a href=\"\/stock\/PCRFY\">PCRFY<\/a>)<\/strong> is &quot;turning off&quot; its <strong>U.S. TV business<\/strong>. The Japanese giant is handing over North American and European sales operations to <strong>Skyworth Group<\/strong>, a move that reflects the increasing dominance of Chinese manufacturers in the low-to-mid-range television market.<\/p>\n<p>Meanwhile, in the retail sector, <strong>Piper Sandler<\/strong> has lowered its outlook for <strong>Beyond, Inc. (<a href=\"\/stock\/BYON\">BYON<\/a>)<\/strong>, formerly known as Overstock and current owner of the Bed Bath &amp; Beyond brand. The firm cut its target price to <strong>$8.00<\/strong>, down from <strong>$10.00<\/strong>, as the company navigates a complex restructuring that includes the acquisition of <strong>Kirkland\u2019s Home<\/strong> assets and a pivot toward a nationwide franchise model.<\/p>\n<h2>China: Record Low Yields and Travel Surges<\/h2>\n<p>China&#39;s fixed-income market is seeing unprecedented demand, with <strong>3-year government bonds<\/strong> yielding just <strong>1.32%<\/strong> and <strong>10-year bonds<\/strong> at <strong>1.75%<\/strong>. These figures reflect <em>investor flight to safety<\/em> and expectations of further monetary easing by the <strong>People&#39;s Bank of China<\/strong> to combat slowing consumer price growth.<\/p>\n<p>On the real economy side, the <strong>National Immigration Administration<\/strong> reported that the <strong>Spring Festival<\/strong> period saw <strong>17.8 million<\/strong> cross-border trips. This <strong>14.1% year-on-year increase<\/strong> was bolstered by China&#39;s expanded visa-free policies and a longer nine-day holiday window, signaling a robust recovery in international tourism.<\/p>\n<h2>Geopolitical Developments: Mass Returns to Afghanistan<\/h2>\n<p>Geopolitical focus has shifted to <strong>Afghanistan<\/strong>, where the <strong>Taliban<\/strong> government reports that over <strong>4 million<\/strong> citizens have returned to the country over the past year. This mass influx is largely driven by intensified deportation campaigns in neighboring <strong>Iran<\/strong> and <strong>Pakistan<\/strong>, which have collectively expelled millions of undocumented Afghans.<\/p>\n<p><em>Humanitarian organizations warn<\/em> that the return of millions to a country already struggling with food insecurity and aid cuts could trigger a deeper crisis. The <strong>United Nations<\/strong> has noted that approximately <strong>22 million people<\/strong> in Afghanistan are currently in need of urgent assistance as the de facto authorities struggle to provide basic services for the returnees.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The Reserve Bank of India (RBI) is actively intervening in currency markets to defend the Rupee (INR) at 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