The Indian rupee is going to grow in the coming months as the central bank will probably rise the interest rate and will allow currency’s appreciation according to Bank of America strategist.
This is not very popular scenario among the currency market analysts, but Bank of America and some other investment institutions think that the rupee will rise more than 9% by the year’s end and the India’s repurchase rate will be lifted from 7.75 percent to 8 percent on the next Reserve Bank of India meeting.
The growing inflation rate in India forces nation’s financial authorities to sacrifice exporter’s competitiveness. 7.57 percent inflation in India is one of the main driver for the rupee’s probable appreciation.
Yeo Han Sia, a strategist at Bank of America, spoke in an interview about the current situation with India’s inflation:
Currency appreciation is a monetary policy tool India will definitely have to explore in coming months… If you have a persistent overshoot of inflation, resulting in an erosion of market confidence over the central bank and the government’s credibility to fight inflation, then the issue that develops is much more serious.
ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders.
Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment.
ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services.
A rich choice of managed accounts are also available, please check our Managed Account Section
ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.
Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.
No comments:
Post a Comment