SENSEX NIFTY
Jan 02, 2013, 08.25 AM IST | Source: Reuters

Rupee could get support from Asia capital inflows: Nomura

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.

Rupee could get support from Asia capital inflows: Nomura

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.

Also Read:

Rupee may to trade in 54.70-55.00 range today: Nirmal Bang
Economy poll indicates positive trends for 2013
RBI rate-cut may be gradual to support growth: Experts

ADS BY GOOGLE

video of the day

Positive on PSU banks; NPA cycle may have peaked: Barclays

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.