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HDFC Bank economists warned the rupee could come under pressure as emerging-market currencies face headwinds from the China Evergrande debt situation. They said the uncertainty could keep the dollar bid and expected USD/INR to trade between 73.65 and 74.
Investors are watching whether Beijing steps in to restructure the developer.
A broader risk-off move would strengthen the dollar and weaken the rupee, raising the rupee cost of imported feed. The outcome depends on whether China's developer stress spreads into wider financial markets.
moneycontrol.comPTISep 22, 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.
