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Despite US Fed’s hawkish stance, rupee still could strengthen over the medium term

Pandemic control, economic recovery and earnings boost could attract more foreign capital inflows

June 18, 2021 / 01:35 PM IST
Despite US Fed’s hawkish stance, rupee still could strengthen over the medium term

The rupee has fallen to a six-week low breaching 74 to a dollar. On Thursday, it was among the worst performers in emerging market currencies. That’s not surprising. The US Federal Reserve has taken a hawkish turn. Its so-called dot plot now indicates two rate hikes in 2023, earlier than projected as consumer inflation pinched. As a result, the dollar index, which measures the US greenback against a basket of currencies, jumped about 1.5 percent in the past two days. As...

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