Economics
Rupee’s Asia-Beating Advance Seen as Unsustainable by Analysts
- Rupee has risen most among major Asian peers in past month
- Currency may weaken to 73/dollar by end-March: TD Securities
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The bounce in India’s rupee that’s made it the top performer among major Asian economies is failing to win over traders.
The currency has risen about 1% in the past month after falling by as much 1.2% in October and November. Traders say the fillip provided by a one-off corporate inflow of about $6 billion in recent weeks and a change in the central bank’s foreign-currency management strategy is unlikely to last.