Weakening rupee seen as solution to high tariffs
pre-market1 source ↓written by the desknot a recommendation
- mark
- 90-per-dollar
- on India
- 50% US tariff
HSBC's Chief India Economist, Pranjul Bhandari, stated that a weakening rupee could effectively address the issue of elevated tariffs. The rupee recently crossed the 90-per-dollar mark, influenced by a 50% US tariff on India, leading to a widening trade deficit. Bhandari emphasized that a trade deal with the US and serious reforms by the Indian government could improve capital inflows and stabilize the currency.
Not investment advice. For informational purposes only.