Currencies
Citi Sees Rupee a Favorite in Asia as India Joins Key Bond Index
- Top FX trader says strong fundamentals helping it outperform
- Global and US policy rates to drive currency in near term
The rupee is the only emerging Asian currency to have strengthened against the dollar this year.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Citigroup Inc. remains positive on the Indian rupee and expects it to build on its outperformance in the region this year.
The currency’s strong fundamentals, a narrowing current account deficit, and growing expectations on inflows around India’s inclusion into a global bond index are adding to its appeal, said Nathan Venkat Swami, head of foreign exchange trading in Asia Pacific.