The Indian rupee has now been one of the most stable currencies in Asia-Pacific this year. However, there are some doubts going on and it is to be expected that its stability and the good run that it had is expected to be short-lived. This is all according to UBS. They have made this prediction about the Indian currency. The strategies are there and they have proved it by studying the pattern over the last few months and probably even this entire year to date.
The strategists from the Swiss Investment Bank had said in a note which had been dated as on the 25th of August that they expect that the Indian currency will weaken to 77 per dollar. This is expected and predicted to happen by the end of the year. This will be almost more than 5% weaker than it is now. The future for the Indian currency is not looking good and the predictions are showing a further decrease in the value of the currency. The stability will be well gone.
“We see the year-to-date INR stability as short-lived,” UBS has said this with reference to the Indian currency. They have also been keen on adding that a retreat in the United States bond will yield the stability of the other currencies like that of the Indian one.
To keep in mind the fact that the Indian Rupee changed hands at around 72.89 per dollar is very important. This was on Friday and that is as steady as it will go. So what to expect next is something of Major importance.
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The government is paying attention to the fact and the economist and researchers have all predicted the same thing over and over again no matter where we have looked. This might be the reason that the prices are going up. If the rupee does down the tumble in the next few months that we have left in the year then it would be a really painful situation to handle.
We will obviously keep you updated on the latest news. So keep your eye out.