Barclays sees rupee falling to Rs72/dollar by 2018-end

[Crazy_Robert]

Barclays Plc has become the most bearish forecaster on the Indian rupee, predicting the currency will weaken more than it did during the taper tantrum five years ago.

The lender expects the rupee to decline to 72 per dollar by year-end as elevated oil prices dents government finances and foreigners dump Indian assets. Hitting the target would mean an annual drop of 11.3% for the currency, worse than that seen in 2013. The prediction is also more bearish than the 67.52 median forecast in a Bloomberg survey.

“India’s difficulty in attracting portfolio flows is exacerbated by poor bond market, unclear policy communication by the Reserve Bank of India and rising political risks ahead of the 2019 election,” analysts Hamish Pepper and Dennis Tan wrote in a note Thursday. Barclays’ earlier forecast was 69 per dollar.

 

The sentiment has reversed from a year ago when analysts said emerging-market currencies were better prepared to endure a selloff when major central banks start withdrawing stimulus because of healthy public finances and subdued inflation. But elevated oil prices and hardening global yields has spurred global funds to pull $6.7 billion from Indian stocks and bonds this year, sending the rupee to the brink of its 2016 record low.

“India’s wider current account deficit, driven by higher oil prices and demand for capital import, will be increasingly difficult to fund, given the increased return competition posed by higher USD rates for EM debtors,” the analysts wrote.

[boeing747]

#Ache Din

[Aakupaccha_caradu]

[reality]

Ache Dinaal

[tacobell fan]

[Idassamed]

Nice.

Thanks Bodi

[boeing747]

2 hours ago, tacobell fan said:

Arei @tacobell fan ga, nee acct lo unna $200k ni naku appu ivvu fleez..at 72rs exchange rate, India transfer chesi edanna property kanukkunta

[tacobell fan]

2 minutes ago, boeing747 said:

Arei @tacobell fan ga, nee acct lo unna $200k ni naku appu ivvu fleez..at 72rs exchange rate, India transfer chesi edanna property kanukkunta

  vaddi entha istavo cheppu direct ga India lo ne arrange chesta 

[Hitman]

It will. No money in Banks, they have to depend on foreign remittance now or foreign investments.. Rupee further go down..

[boeing747]

Just now, tacobell fan said:

  vaddi entha istavo cheppu direct ga India lo ne arrange chesta 

Nee yavva, friendship ki nuviche value idena? Afterall $200k is peanuts neku, malli daniki vaddi aa. 

[boeing747]

Just now, Hitman said:

It will. No money in Banks, they have to depend on foreign remittance now or foreign investments.. Rupee further go down..

Then its #ache din no

[tacobell fan]

Just now, boeing747 said:

Nee yavva, friendship ki nuviche value idena? Afterall $200k is peanuts neku, malli daniki vaddi aa. 

uncle confuse ayyinattu unnav. Andhariki neeku unnanatha undadhu (assti). 200k neeku peanuts naku matram almonds 

[boeing747]

Just now, tacobell fan said:

uncle confuse ayyinattu unnav. Andhariki neeku unnanatha undadhu (assti). 200k neeku peanuts naku matram almonds 

Naa acct motham magnifying glass eskuni ethikithe oka $1000 kuda dorakav neeku.  Arei nee mundu nenu lilliput lekka

[tacobell fan]

Just now, boeing747 said:

Naa acct motham magnifying glass eskuni ethikithe oka $1000 kuda dorakav neeku.  Arei nee mundu nenu lilliput lekka

antha pagapattav enti uncle naa meeda. Fix ayyava aadukundam ani

[boeing747]

Just now, tacobell fan said:

antha pagapattav enti uncle naa meeda. Fix ayyava aadukundam ani

Edo timepass ankul...LA vachedi confirm ayinda nuvu