Biggest Fund Manager in India Sees Rupee Ending Five-Year Slide
- Rupee to appreciate to 80 per dollar in second half: SBI
- Oil prices, surging services exports to assist appreciation
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India’s largest asset manager is forecasting a stronger performance for the rupee in the second half of the year, helped by easing oil prices and cooling intervention by the central bank.
The currency will probably strengthen to 80 per dollar by the end of the year, according to Namrata Mittal, chief economist at SBI Mutual Fund, its first annual appreciation since 2017. The rupee is up 0.8% this year, and is one of only two Asian currencies that has gained against the greenback. It closed 0.3% stronger on Wednesday at 82.1062.