Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Citi sees rupee a favorite in Asia as India joins key bond index.


Date: 29-05-2024
Subject: Citi sees rupee a favorite in Asia as India joins key bond index
Citigroup Inc. remains positive on the Indian rupee and expects it to build on its outperformance in the region this year.

The currency’s strong fundamentals, a narrowing current account deficit, and growing expectations on inflows around India’s inclusion into a global bond index are adding to its appeal, said Nathan Venkat Swami, head of foreign exchange trading in Asia Pacific.

The rupee is the only emerging Asian currency to have strengthened against the dollar this year as global investors buy Indian bonds ahead of the country’s entry into JPMorgan Chase & Co.’s key gauge. Citi’s views suggest its lure is unlikely to dim.

“Global investors have preferred the rupee within most Asian long-short relative value baskets because of its carry and volatility dynamics,” Swami said. “The currency has been very stable, with very narrow intraday movements and suppres ..

The one-week and one-month realized volatility for the dollar/rupee was tracking within the 1 to 1.25 vol range over the last few months, and the implied volatility curve was languishing at multiyear lows, Swami said.

The currency faces a key risk if national elections, where Prime Minister Narendra Modi is seeking a third term, throw up unexpected results.

There was some buying interest for at-the-money strikes in the one-month tenor which go beyond the election outcomes, but that was partly driven by the attractive break-evens given the low base volatility, Swami said.

The rupee is likely to be driven by a host of factors including global and US policy rates, and relative moves against Asian EM currencies in the near term, he added.

 Source Name : Economic Times

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 06-06-2024
Notification No. 40/2024 - Customs (N.T.)
Exchange Rate Notification No. 40/2024-Cus (NT) dated 06.06.2024-reg

Date: 16-05-2024
Notification No. 36/2024 - Customs (N.T.)
Exchange Rate Notification No. 36/2024-Cus (NT) dated 16.05.2024-reg

Date: 02-05-2024
Notification No. 34/2024 - Customs (N.T.)
Exchange Rate Notification No. 34/2024-Cus (NT) dated 02.05.2024-reg.

Date: 18-04-2024
Notification No. 30/2024 - Customs (N.T.)
Exchange Rate Notification No. 30/2024-Cus (NT) dated 18.04.2024-reg.

Date: 15-04-2024
Notification No.29/2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 12-04-2024
NOTIFICATION No. 09/2024 – CENTRAL TAX
Seeks to extend the due date for filing of FORM GSTR-1, for the month of March 2024

Date: 10-04-2024
NOTIFICATION No. 08/2024- Central Tax
Seeks to extend the timeline for implementation of Notification No. 04/2024-CT dated 05.01.2024 from 1st April, 2024 to 15th May, 2024

Date: 09-04-2024
Notification No. 28/2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 08-04-2024
Notification No 07/2024 – Central Tax
Seeks to provide waiver of interest for specified registered persons for specified tax periods

Date: 05-04-2024
Notification No. 23/2024-Customs
Seeks to amend No. 64/2023-Customs, dated the 7th december, 2023 in order to allow duty free imports of yellow peas with bill of lading issued on or before 30.06.2024



Exim Guru Copyright © 1999-2024 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001