Rupee could get support from Asia capital inflows: Nomura

Tue Jan 1, 2013 4:08pm IST

A cashier counts currency notes inside a bank in Lucknow July 16, 2009. REUTERS/Pawan Kumar/Files

A cashier counts currency notes inside a bank in Lucknow July 16, 2009.

Credit: Reuters/Pawan Kumar/Files

Related Topics

Reuters Market Eye - Nomura says capital inflows into Asia could provide some support to the rupee in the first half of 2013, but negative local fundamentals to limit performance.

Investment bank cites lack of fiscal consolidation, the long road ahead in implementing reforms, high and sticky inflation and the large current account deficit as reasons.

Says government needs to take solid steps to tackle fiscal deficit, improve investment climate, but Nomura sceptical given 2013 is pre-election year.

Nomura says bias to build on a long USD/INR position, particularly in the second half, with forecasts at 54.5 by mid-March, 56 in June and 59 by December.

(Reporting by Subhadip Sircar)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Press Event

Press Event

Modi takes tea, but no questions, in first press event as PM.  Full Article 

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage