Barclays Urges Rupee Caution Amid Election Doubts: India Credit
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Barclays Plc says investors should be cautious on the rupee during the course of India’s elections, on concern next month’s vote won’t deliver a clear winner.
The rupee’s rally will stall at 59 per dollar, from 60.1650 today, and it could swing widely depending on the outcome, according to Barclays. Ballots will be cast from April to May, and Westpac Banking Corp. recommends investors stop buying the currency closer to the May 16 deadline for counting votes.