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Forex Insights: China's Yuan is the protagonist that drives the Rupee
Publish date: 3rd July, 2018
- One more day, one more 52-week record on USDCNH
- When USDCNH is moving higher and Chinese/HK equities are moving lower, Rupee cannot stay immune
- CNH is down another half a percent, but thanks to alleged intervention from RBI, Rupee is barely down by quarter percent
- China is in the eye of the hurricane that is the trade war and geo-political turf war, even as it needs to focus on its economy and growing debt
Lots of happenings in the currency market. Here’s a look:
Key Highlights
Related: 6 things to know about China’s falling Yuan and why it affects India
Rupee forecast:
The local currency will continue to be driven by CNH in the short term. Major factors like oil, US monetary policy, domestic political risk and tightening financial conditions will continue to drive Rupee from the background but the protagonist now remains China
You’ll find the full strategy and forecast in the report attached
Also read:
- Other research recommendations by Kotak Research team
- Know about the current goings-on in the economy
- 5 indicators to gauge the intensity of current trade war
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