See USD/INR in 83.5-84.5 range over next 3-4 quarters, Kotak Securities says
USD/INR INR=IN inches past 84 to all-time high on bids by foreign banks, oil companies; last at 84.0550
RBI steps in to make sure that break of 84 does not fuel excess volatility
RBI to continue to prudently curb undue volatility, given
the robust FX reserves, Kotak Securities says in note
Uncertain global environment should keep INR and other EM currencies' outlook under pressure, it says
Domestic fundamental factors, however, supportive of INR with FY2025 CAD/GDP expected at 1.2%, with modest BOP surplus
Expects USD-INR to trade in 83.5-84.5 range over the
next 3-4 quarters with average INR estimated at 83.8 for FY2025
For more click on FXBUZ
Reporting by Nimesh Vora
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