Rupee Could Get Support from Asia Capital Inflows: Nomura
January 2, 2013 3:50 PM EST
Nomura says capital inflows into Asia could provide some support to the rupee in the first half of 2013, but negative local fundamentals to limit performance.
Investment bank cites lack of fiscal consolidation, the long road ahead in implementing reforms, high and sticky inflation and the large current account deficit as reasons.
Says government needs to take solid steps to tackle fiscal deficit, improve investment climate, but Nomura sceptical given 2013 is pre-election year.
Nomura says bias to build on a long USD/INR position, particularly in the second half, with forecasts at 54.5 by mid-March, 56 in June and 59 by December.
Most Popular Slideshows
- Jennifer Lawrence & Nicholas Hoult Allegedly Split: Mad Max Actor Cheats with Kristen Stewart & Riley Keough - Reports
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Lunch with the Gods: Pope Francis Eats with Vatican Workers in Cafeteria
Join the Conversation
- Google Nexus 6, 8 with Android L on Release Date Promises Killer Mobile Device Experience
- iPhone 6 Release Date Relevance to iOS Newbies: Specs Meaning, Price Considerations
- Killer Whales Gobble Japanese Whaling Crew
- HTC One M8 Android 4.4.3 KitKat Update Roll Out, Introducing the HTC One Remix
- 12-inch MacBook Apple Retina and 2014 MacBook Pro to Feature Liquid Sensors, Release in October
- The Pirate Bay Releases ‘The Mobile Bay’: Mobile Torrent Download Made Easier but Remains Illegal
- 5 Marketing Nuggets We Can All Learn From Lady Gaga