The Indian rupee has had a stable run this year, but UBS expects it will be 'short-lived'

  • 📰 CNBC
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 19%
  • Publisher: 72%

Strategists from UBS expect the Indian currency to weaken to 77 by the end of the year — more than 5% weaker compared to current levels.

United States Headlines News

United States Latest News, United States Headlines

UBS strategists expect the Indian currency to weaken to 77 per dollar by the end of the year — more than 5% weaker than current levels — and depreciate further to 79.5 by September 2022.

British bank HSBC expects the rupee to hold up "relatively well" in a stronger dollar environment as persistent FDI inflows and better foreign-exchange reserves will help the currency withstand external headwinds.Nasir Kachroo | NurPhoto | Getty Imageshas been one of the most stable currencies in Asia-Pacific this year, but its stability is expected to be short-lived, according to UBS.

"We see the year-to-date INR stability as short-lived," UBS said, adding that a retreat in U.S. bond yields lent stability to currencies like the rupee. "First, consistent fund flows was positive for the rupee and second was the [Reserve Bank of India] bought dollars to build its reserves and prepare itself for any volatility," he told CNBC.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

wow

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Semiconductors and more: UBS lists its best ideas to beat the marketAnalysts at investment bank UBS have listed a raft of top global stock picks in markets including Asia, Australia, and Europe. Pro good
Source: CNBC - 🏆 12. / 72 Read more »

Monaco's Princess Charlene stable after collapsing in South AfricaPrincess Charlene of Monaco was in stable condition Friday after collapsing and being hospitalised in South Africa, where she has been living for the better part of this year. Who We will hope she gets better 🙏
Source: YahooNews - 🏆 380. / 59 Read more »

California teacher arrested for allegedly having sex with studentCalifornia detectives have arrested a teacher for allegedly having sex with a 14-year-old male student. Are you sure? I’ve come to distrust almost all that’s reported on FOX. Was a book ever opened or a thought processed? Where were these teachers when I was a kid?
Source: FoxNews - 🏆 9. / 87 Read more »

‘The Amazing Race’ at 20: Producers Pick Their Favorite and the Toughest Show ChallengesAfter 20 years and 32 seasons, CBS’ “The Amazing Race” remains one of the gold standards of reality competition TV, having won 10 Emmys in that series category since its inception… AmazingRaceCBS Needle in a haystack 15 Actors Who Could Never Play a Good Villain Can't wait for it to come back.
Source: Variety - 🏆 108. / 63 Read more »

Katie Price pays sad tribute to Sarah Harding, who was bridesmaid at her weddingKatie Price has written a touching tribute to her friend and former bridesmaid Sarah Harding, having admitted earlier this year that she would love to reconnect with the Girls Aloud star 당신은 크리스천으로서 거룩함으로 메시아의 오심을 기다리고 있습니까? PreparationForRapture
Source: Mirror Celeb - 🏆 476. / 51 Read more »

My grandfather cut my mom out of his will and leaving everything to me. If she’s the beneficiary on his accounts, do I get those too?Who gets what in inheritance is a tricky topic. That's why the Moneyist is here to help: My grandfather, 86, recently changed his will to specifically exclude my mother — his daughter — and leave everything to me. The Moneyist weighs in: wow
Source: MarketWatch - 🏆 3. / 97 Read more »