Investor sentiment turned positive last week after Modi swept to a comfortable victory as predicted by nearly all exit polls.With election outcome settled, markets are now looking to see how the government tackles slowing economic growth
As US-China trade-war rhetoric escalates without any plan for a resumption of negotiations, currency strategists are mapping out foreign exchange implications.Bank of America Corp sees the Japanese ye
The rupee lost about 1% against the dollar last month due to a significant surge in fuel prices. A survey predicts that the rupee will weaken nearly 2% to 70.67 per dollar in six months.
Apart from surging oil prices, higher demand for the greenback from importers and banks as well as the lower opening of the equity markets have weighed on the rupee.
India’s rupee weakened to the lowest level in more than a month and bonds fell as a jump in oil prices once again exposed the nation’s vulnerability to spikes in energy costs.
The prospect that Prime Minister Narendra Modi and his party will manage to just about win a parliamentary majority has sparked net inflows of over $8 billion into equities so far this year.
