FXstreet.com (San Francisco) - As Nick Bennenbroek, Head of Currency Strategy at Wells Fargo observes, the Indian rupee is up more than 5% against the greenback in the past month, “and while the prospect is for further gains over the coming quarters, the road ahead is likely to be bumpy.”
Mr. Bennenbroek explains: “European debt crisis should see the rupee strengthen slowly over time, to a rate of USD/INR51.75 within the next year. Given this outlook, our overall bias is to hedge medium-term rupee payables and expenses against probable currency strength in 2013.”
Mr. Bennenbroek explains: “European debt crisis should see the rupee strengthen slowly over time, to a rate of USD/INR51.75 within the next year. Given this outlook, our overall bias is to hedge medium-term rupee payables and expenses against probable currency strength in 2013.”
