#USDINR @ 82.1410 : RBI to maintain a hawkish bias, helping to mitigate Rupee weakness – Commerzbank
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Economists at Commerzbank discuss Thursday’s RBI decision and the outlook for the Indian Rupee.
“RBI meets this Thursday and is expected to hike its key rate by another 25 bps to 6.75%. The output cut by OPEC+ probably cemented RBI’s rate hike decision. RBI is expected to maintain a hawkish bias given the strong momentum in the economy. We may even see another 50-75 bps hike in total this year. This in turn could help to mitigate INR’s weakness.”
“We look for sideways trading for USD/INR near term between the 81.50-83.00 range.”
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