Indian Rupee predicted to decline to 83.85 vs USD near-term, under 85.2 within a year, due to stock outflows, dollar demand, and potential central bank policy shift.
The Indian Rupee is predicted to continue its decline, reaching 83.85 vs the US Dollar in the near term, and under 85.2 within a year, according to Barclays and Morgan Stanley. The currency's drop is due to outflows from local stocks following a hike in equity taxes, dollar demand from importers, and potential dovish shifts in the central bank's policy. The Reserve Bank of India may manage the currency's drop to prevent excessive volatility.
August 05, 2024
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