Rupee may trade negative on weak economic data: Sushil Fin
Sushil Finance has come out with its report on Indian Rupee. "expect Indian Rupee to trade on negative note on the back of weak economic data from the country. Further, concerns over country‘ economic health, along with worries over possible US federal debt default may act as an undesirable factors for the Indian Rupee," says the research firm.
October 01, 2013 / 12:54 IST
Sushil Finance's report on currency
The Indian Rupee depreciated by 0.16 percent in Yesterday’s trading session and closed at 62.6 on the back of rise in risk aversion in the global markets. Further, weak economic data from the country acted as a negative factor for the currency. Additionally, worries over possible US federal debt default kept currency under pressure. However, RBI measures to attract more Inflows and ease in Geopolitical tensions curbed sharp depreciation in the Indian Rupee.Outlook: We expect Indian Rupee to trade on negative note on the back of weak economic data from the country. Further, concerns over country’ economic health, along with worries over possible US federal debt default may act as an undesirable factors for the Indian Rupee. However, rise in risk appetite in the global markets, weakness in DX and RBI measures to attract more inflows may curb sharp depreciation in the currency or even reversal may be seen.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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