Time to remit? How Indian, Pakistani currencies will fare in 2021
Waheed Abbas/Dubai
(KT file photo)
Both currencies will will gain in the first half of 2021, but lose in the second, say industry executives.
Indian and Pakistani currencies will witness a “seesaw trade” next year, strengthening in the first-half but likely to weaken in the later part of 2021, industry executives have said.
They noted that remittances from the UAE are expected to stay strong next year.
Rajiv Raipancholia, CEO of Orient Exchange, said the US dollar is expected to weaken against major currencies, including the Indian rupee. Foreign institutional investor flows are also expected to increase, boosting India’s foreign exchange reserves.