If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, Forexgen has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills With ForexGen
No hard expressions, no buzz words, and no rocket science language are used throughout these lessons.
The Indian rupee is going to grow in the coming months as the central bank will probably rise the interest rate and will allow currency’s appreciation according to Bank of America strategist.
This is not very popular scenario among the currency market analysts, but Bank of America and some other investment institutions think that the rupee will rise more than 9% by the year’s end and the India’s repurchase rate will be lifted from 7.75 percent to 8 percent on the next Reserve Bank of India meeting.
The growing inflation rate in India forces nation’s financial authorities to sacrifice exporter’s competitiveness. 7.57 percent inflation in India is one of the main driver for the rupee’s probable appreciation.
Yeo Han Sia, a strategist at Bank of America, spoke in an interview about the current situation with India’s inflation:
Currency appreciation is a monetary policy tool India will definitely have to explore in coming months… If you have a persistent overshoot of inflation, resulting in an erosion of market confidence over the central bank and the government’s credibility to fight inflation, then the issue that develops is much more serious.
USD/INR rate decreased today on Forex from the Friday’s close 40.725 to 40.599 as of 9:31 GMT.
No comments:
Post a Comment