6 days ago
A falling rupee may get some lift from a trade deal with US
The local currency has depreciated by nearly a rupee in the last month, from 85.46/$1 on June 28, to 86.41/$1 as of Thursday. The weakness in rupee comes amid high uncertainty on tariffs, outflows by FPIs in debt and equities, and spot dollar buying by the Reserve Bank of India that has prevented excess appreciation, economists say.
Agencies
A lot will depend on what the trade deal with the US would be on August 1. India is also a part of BRICS, and additionally, we import oil from Russia, so there could be special attention on India when it comes to tariffs. We need to see how this slice plays out says MADAN SABNAVIS Chief Economist,
Bank of Baroda
.
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The risk-off sentiment triggered by worries on US fiscal sustainability has benefited developed markets and not emerging markets says GAURA SEN GUPTA Chief Economist,
IDFC First Bank
.
Agencies
