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Perspective on Indian Rupee by Ms. Mihika Sharma - Associate Economist at CARE Ratings
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Below the Perspective on Indian Rupee by Ms. Mihika Sharma – Associate Economist at CARE Ratings
"The Indian rupee has slightly strengthened over the past trading sessions closing at 83.91 on August 26 compared to 83.95 about a week ago.
A weaker dollar is offering some support to the rupee, however, dollar demand from importers and foreign portfolio outflows from Indian stocks have limited rupee’s gains.
We expect the rupee to trade between 83.60 and 84.10 in the near term. While the approaching Fed rate cuts may provide support, rising oil prices could put some pressure. The RBI is likely to intervene on both sides, as needed, to contain any rupee volatility.”
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