INR: No lasting relief - ING

Sandeep Kanihama FXStreet Contributor

In view of Prakash Sakpal, Economist at ING, the Indian rupee's oversold position over the last two months provides it with an edge to outperform in a softer US dollar environment.

Key Quotes

“Indeed, the INR stood alongside Asia’s best-performing Thai baht (THB) in last week’s global equity sell-off. However, the four-day downward USD/INR streak last week was snapped on Monday, a sign that the markets aren’t taking much comfort from the better activity data.”

“And we aren’t yet ruling out an intensified spill-over from the recent high oil price on to the INR, leaving our year-end USD/INR forecast at 76.5 (spot 73.8).”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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