A Commentary On Currency: CARE Ratings Report
The portrait of Mahatma Gandhi is displayed on an Indian 2000 rupee banknote in an arranged photograph in Bangkok, Thailand. (Photographer: Brent Lewin/Bloomberg)

A Commentary On Currency: CARE Ratings Report

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

CARE Ratings Research Report

One week back there was concern on Reserve bank of India buying dollars in the forward market to stem the appreciation in the rupee.

Markets were concerned about excess liquidity coming into the system and heaved a sigh of relief as the RBI turned towards the forwards and not spot market.

But post RBI credit policy, the rupee has gone downhill. It has crossed the Rs 75/dollar mark today and one is not sure where it will go.

The fundamentals appeared to be strong, and our call was Rs 74-74.5/dollar for the first quarter under ceteris paribus conditions. What has changed?

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CARE Ratings A Commentary on Currency.pdf

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