Economists at Commerzbank discuss Thursday’s RBI decision and the outlook for the Indian Rupee.
We may even see another 50-75 bps hike in total this year
“RBI meets this Thursday and is expected to hike its key rate by another 25 bps to 6.75%. The output cut by OPEC probably cemented RBI’s rate hike decision. RBI is expected to maintain a hawkish bias given the strong momentum in the economy. We may even see another 50-75 bps hike in total this year. This in turn could help to mitigate INR’s weakness.”
“We look for sideways trading for USD/INR near term between the 81.50-83.00 range.”
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