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Indian Rupee: How are oil relief and equity inflows lending support? – MUFG
Lower oil prices and a revival in foreign equity inflows have put the Indian Rupee among the main beneficiaries, taking USD/INR to its lowest level since April, according to MUFG’s Lloyd Chan. Support is also coming from better terms of trade and easing pressure on the import bill and corporate margins. Compared with other Asian markets, India’s equity market is drawing sizeable foreign capital.
How Are Oil Prices and Inflows Supporting the Rupee?
"INR has emerged as a key beneficiary of the recent combination of lower oil prices and returning foreign equity inflows, with USD/INR falling below 94.00 to its lowest since April."
"Lower crude improves India’s terms of trade and eases pressure on the import bill and corporate margins."
"Meanwhile, foreign investors bought a net $5.2bn of Indian equities last week, with inflows accelerating towards the end of the week. This contrast with net foreign equity selling in South Korea and Taiwan."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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