A Big Modi Victory Seen Fueling Indian Rupee’s Nascent Rally
- Currency may rise to 82/USD by year-end: Malayan Banking
- RBI may temper any significant rupee gains: Malayan’s Lim
This article is for subscribers only.
A nascent rally in the Indian rupee has room to run on expectations that Prime Minister Narendra Modi will secure a strong mandate to execute pro-growth policies.
The currency, which has been at the mercy of the central bank’s vise-like grip recently, is set for a breakout and poised for its best month in almost a year. It will rally through its peak in March and hit 82 per dollar by the end of 2024, according to Malayan Banking Bhd.