In an interview to CNBC-TV18, Chin Loo, senior currency strategist, BNP Paribas says the rupee will see volatility as foreign investors continue to exit their long positions from the Asian currencies.
Chin Loo, senior currency strategist at BNP Paribas finds that the US dollar against Asia as well the unwinds in dollar Asians and the exit out of Asian assets have been fairly extended already.
The Indian currency hit a record low on Wednesday, dropping as low as 54.36 to the dollar, breaching its previous record low of 54.30 set in December. Succumbing to the steep risk aversion in the global markets and the vulnerabilities of a challenging economy seem to have caught on the rupee.
Growing concerns over India's fiscal position and a growing current account deficit is leaving the rupee vulnerable, says Chin Loo, senior currency strategist at BNP Paribas.
In an interview to CNBC-TV18, Chin Loo, senior currency strategist at BNP Paribas looks at the global currency space and gives her outlook on where she sees the rupee, euro and dollar in the near-term.
Senior currency strategist at BNP Paribas Chin Loo says she sees the rupee above 44-46.25 to the dollar with support coming in above 45.60
The currency market has been in the eye of the global storm which is taking place. In an interview on CNBC-TV18, Chin Loo of BNP Paribas talks about where she sees currencies headed after the developments of the weekend.
Chin Loo of BNP Paribas, in an exclusive interview on CNBC-TV18, says she expects the euro to weaken even further with the announcement of a new legislation in the pipeline. “The legislation being set up requires a potential haircut for the EU debt post 2013,” she says.