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Forex Flash: Indian capital inflows will likely sustain - ANZ

By FXstreet.com,  January 01, 2013, 11:39:00 PM EDT

FXstreet.com (Barcelona) - After India posted a record current account deficit in the July-September quarter, the deficit is likely to remain large in the October-December quarter, notes ANZ strategists.

"That said, the global environment in 2013 could be more conducive for India to attract capital to fund the deficit. The US will most likely pass a bill to avert the fiscal cliff - confirmed - and potential monetary easing by the RBI will also be positive for capital inflows" ANZ adds.

In addition, ANZ sees the government "continuing to pursue economic reforms, which will be positive for the INR, thus we recommend selling 3m USD/INR NDF, at 55.24 (spot reference 54.69), targeting 52.2 with stop loss at 57.0."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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