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ANZ Bank forecasts the Indian rupee will appreciate into year-end on robust portfolio and direct investment inflows. It expects the currency could weaken in 2022 as a wider trade deficit from stronger import growth offsets that appreciation.
The bank adds that the RBI may allow a weaker rupee to support export competitiveness.
A forecast of rupee strength into year-end lowers the expected rupee cost of imported feed inputs in the near term. The outlook for 2022 is more mixed, so buyers should not assume a lasting currency benefit.
ms.octabroker.comSep 29, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
