Rupee to remain under pressure despite RBI support: Societe Generale
The Indian rupee is likely to struggle against the dollar as slowing global growth and the Federal Reserve's interest rate stance overshadows Reserve Bank of India's intervention, Societe General suggested in a note on Friday.
"The RBI is likely to intervene at key levels such as 80," Kunal Kundu, economist at Societe Generale, wrote in the note.
"However, we believe that such interventions would provide opportunities to buy on dips in the USD/INR, rather than establish sustained INR strength vs the USD."
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