Reuters Market Eye – CLSA’s Rajeev Malik says USD/INR could hit 57-60 “in the very near-term” because of global risk aversion and if there are no “constructive/effective” policy moves from the central bank or the government.
Forecast is well above the most bearish estimates from a poll of analysts this week from Reuters.
Key way forwards for INR will be global risk, RBI’s measures and government’s policy responses, Malik adds.
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