Indian rupee to mostly trade sideways in 2021: Fitch Solutions ...Middle East

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Indian rupee to mostly trade sideways in 2021: Fitch Solutions
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Fitch Solutions on Thursday revised its forecast for Indian rupee to average Rs 73.50 per US dollar in 2021, slightly stronger from Rs 75.50 per US dollar previously, which reflects its view for the rupee to mostly trade sideways over the course of year. While rising oil prices will worsen India's terms of trade and put depreciatory pressure on the rupee, it said, this is likely to be offset by a combination of intervention by the Reserve Bank of India (RBI) and a weakening bias of US dollar due to ultra-loose monetary and fiscal policy in the United States.

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