# Nomura retains negative view on Indian rupee despite JPMorgan index inclusion

> Nomura remains bearish on the Indian rupee even after JPMorgan included India in its flagship emerging market bond index. The rupee rallied to near 82.80 per dollar on the news but could not hold the gains and was weaker than before the inclusion at 83.1125.

- Date: 2023-09-25 · published 2023-09-25T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/34389-nomura-retains-negative-view-on-indian-rupee-despite-jpmorgan-index-inclusion
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Nomura cites a wider current account deficit, equity outflows, a stronger dollar and a weaker yuan, all of which point to continued rupee weakness. A weaker rupee raises the local-currency cost of imported feed ingredients for India.

## Read by commodity

- USDINR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/nomura-retains-negative-view-indian-rupee-despite-jpmorgan-index-inclusion-2023-09-25/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.