Rupee may strengthen to 90 against dollar as India enters sweet spot
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- ✓The Indian rupee could strengthen to 90 against the US dollar as India enters a favourable economic position.
- ✓Anindya Banerjee of Kotak Neo said, "If the situation in West Asia improves, I think we could see the rupee appreciating to levels of 91 or even 90 against the dollar."
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
India remains in a favourable economic position amid easing crude oil prices, strong foreign investment inflows and shifting global dynamics, which could support the Indian rupee and domestic financial markets, according to Anindya Banerjee, Head of Commodities Research at Kotak Neo.
Speaking to ANI, Banerjee shared his outlook on crude oil prices, currency movements, monetary policy and global capital flows, highlighting that India could benefit from improving geopolitical conditions and a shift in global investment sentiment.
Crude oil likely to remain range-bound
“The $70 to $75 level is still far away because Brent crude is currently trading around $91–92 per barrel. For prices to reach those levels, I think the West Asian crisis would have to be completely resolved,” he said.
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