India's battered rupee will trade not far from its lifetime low against the US dollar into next year and remain vulnerable to a worsening trade balance
Indian Rupee Forecast: Will USD/INR Reverse as CPI Brings RBI Cuts in Focus? 2020-12-29 06:00:00 Daniel Dubrovsky, Strategist
Indian Rupee, USD/INR, Nifty 50, RBI, Inflation - Talking Points
Despite high RBI rate and Nifty, Indian Rupee has been underperforming
Local CPI may ease in 2021 as USD/INR recovers on some lost ground
Short-term risks to watch for: new Covid strain, Indian PMI & inflation Advertisement
Despite what has been a crushing year for the US Dollar, it is looking to wrap up 2021 with a win against the Indian Rupee. In fact, INR is down about 3% against USD year-to-date (YTD) even though the Nifty 50, India’s benchmark stock market index, set record highs. This is also despite the Reserve Bank of India (RBI) ending up with some of the highest main lending rates post-Covid within the Asia-Pacific region.