News Snapshot:
[Fitch Solutions] on Friday revised its forecast for the Indian [rupee] to common Rs 76 per US greenback in 2022, barely stronger than its earlier outlook of Rs 76.50. In keeping with the company, the rupee will principally commerce sideways within the coming quarters. In the long run, it expects the Indian foreign money to stay weak–it could common Rs 78 in 2023. Nevertheless, any depreciation shall be gradual given robust financial fundamentals, it added. Within the present 12 months, the rupee has averaged round Rs 73.90. “India has constructed up important reserves of about $640 billion, which is the...
