China’s Yuan Becoming Ever More Vital for India, Barclays Says
- Weakening yuan will put increasing pressure on India: analysts
- Barclays sees CNH/INR in range around 11.50 in coming weeks
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India is likely to do all it can to ensure the rupee keeps pace with the weakening Chinese yuan in order to protect its export competitiveness, according to Barclays Plc.
The depreciating yuan will put increasing pressure on India given the South Asian nation’s expanding trade deficit with China and the growing similarity in the two countries’ export profiles, Barclays analysts including Mitul Kotecha and Lemon Zhang in Singapore wrote in a research note.