Rupee Bear StanChart Now Sees Gains to Highest Since August
- Balance of payments is showing improvement, Sinha says
- Rupee is emerging Asia’s 2nd-best performing currency in 2023
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Standard Chartered Plc., which was among the most bearish forecasters for the Indian rupee over the past couple of years, is turning more upbeat on the currency amid an improvement in the nation’s trade deficit and a softer dollar.
The British lender now sees the base case for the rupee at 81 per dollar by end-2023 but says the currency can easily gain to even 79 levels, Parul Mittal Sinha, head of financial markets for India, said in an interview. That would be the highest since August and imply a gain of 4% from current levels.