Key Points
Global brokerage firm Goldman Sachs predicts a positive trajectory for the Indian rupee in 2024, anticipating that it may rise to 81 against the US dollar by the end of the year...
The positive outlook is fuelled by expectations of substantial foreign capital inflows, particularly as the Reserve Bank of India (RBI) continues to accumulate inflows and bolster forex reserves at every available opportunity, according to Goldman Sachs Chief India Economist Santanu Sengupta...
Despite the optimistic forecast, Goldman Sachs suggested that the Indian currency may lag behind its Asian counterparts due to the RBI's active stance in managing inflows...
In its latest assessment, Goldman Sachs revised its estimates for India's current account deficit in 2023 and 2024 to 1 per cent and 1.3 per cent of gross domestic product, respectively, down from earlier projections of 1.3 per cent and 1.9 per cent...
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