Indian Rupee: Foreign inflows to aid INR against US Dollar – ING
ING economists Deepali Bhargava and Lynn Song note that the Indian Rupee (INR) has given back much of its June gains as US–Iran tensions and rising Oil prices hurt sentiment.
ING economists have expressed optimism about the Indian Rupee (INR) amidst global market fluctuations. Despite recent setbacks due to US-Iran tensions and increasing oil prices, the analysts maintain a positive outlook on the currency. This optimism is fueled by the Indian government's measures to attract Foreign Currency Non-Resident (FCNR) deposits, which could surpass USD 50 billion by September.
Such inflows are expected to help transform a potential balance-of-payments deficit into a surplus. Furthermore, the potential inclusion of Indian bonds in global indices and a shift away from AI-driven equities may also boost foreign investments in India. These factors, combined, are anticipated to bolster capital inflows and further strengthen the INR.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
