Jan 02, 2013, 08.25 AM | Source: Reuters
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.
Deutsche Bank says no plan to pare Asia operations
RBI sets rupee reference rate at 67.87 against US dollar
These rates were 67.08 and 74.06, respectively, ye
Rupee rises 13 paise; opens at 68.10 per dollar
The USD-INR is expected to trade in a range of 68-
Rupee to remain under pressure: Pramit Brahmbhatt
The rupee remains weak above 67.80/USD levels and
Asia stocks cautious as oil bounces, BOJ awaited
Sources told Reuters the decision could be a close
Rupee trims initial losses, still down 3 paise
The Indian unit resumed lower at 68.13 as against