Salisu, Afees A.2025-01-222025-01-222024Salisu, A.A. (2024) "India and the Rest of the World: Analyses of International Monetary Policy Spillovers," Bulletin of Monetary Economics and Banking: Vol. 27: No. 3, Article 8. DOI: https://doi.org/10.59091/2460-9196.2280.1410-8046 (print)2460-9196 (online)10.59091/2460-9196.2280http://hdl.handle.net/2263/100232The US is India’s largest trading partner, followed by the European Union. Our study, using the GVAR model, shows that a US Monetary Policy (MP) shock results in a depreciation of the Indian currency vis-a-vis the dollar. This is due to Indian investors preferring to invest in the US, which provides higher returns during a US MP shock. The Eurozone MP shock does not have a significant impact due to the increasing dollarization of the Indian economy. However, the US MP shock propagation diminishes when there is economic policy uncertainty. Our findings have implications for monetary policy conduct in India.en© The Author(s) 2024. Article is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.Monetary policySpilloversGlobal VARExchange rateIndiaSDG-08: Decent work and economic growthSDG-17: Partnerships for the goalsEconomic policy uncertainty (EPU)Article