Battered Indian Rupee May Get Relief From Foreign Inflows
- Inflows to shield rupee from spike in oil prices: Edelweiss
- RBI may be allowing rupee losses to correct overvaluation: IFA
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A potential gush of foreign inflows on the back of a slew of large share sales is likely to bring reprieve to the Indian rupee.
The currency, which has become emerging Asia’s worst performer over the past month, may gain about 2% from Wednesday’s close to 74 per dollar by the end of December, according to a Bloomberg survey. The rupee will also get a boost from foreign inflows as digital companies, including Warren Buffett-backed Paytm, plan to raise about $10 billion in initial share sales.