Indian Rupee: Rate hike path supports currency – Societe Generale
Societe Generale strategists note that the Indian Rupee (INR) rallied to its strongest level against the US Dollar (USD) since late June, helped by active RBI intervention and sizeable FX mobilisation flows. They highlight stronger-than-expected 2Q Gross Domestic Product (GDP) and hawkish Fed repricing as drivers of a revised Reserve Bank of India (RBI) rate outlook, with economist Kunal Kundu now projecting three additional hikes to lift the key rate from 5.25% to 6.0%. Despite this backdrop, a Reuters Asia FX poll shows traders remain slightly bearish on INR.
RBI tightening outlook underpins INR
"The INR rallied to 94.27/USD strongest level since late June powered by active RBI intervention."
https://www.fxstreet.com/news/indian-rupee-rate-hike-path-supports-currency-societe-generale-202609040927
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