USD/INR to test the lower end of the 80-82 range – Commerzbank USDINR Banks India InterestRate
USD/INR has dropped to near 81.00. Economists at Commerzbank expect the pair to drift towards the lower end of the 80-82 range.“We expect RBI to persist with more rate hikes albeit at a slower pace than the 50 bps hikes of the past three meetings. RBI has hiked by 190 bps so far this year from May to 5.90%.”
“We look for another 30-40 bps hike on 7 December to 6.20-6.30%. This should provide some support for INR along with the softer USD tone.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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