Economic dataEconomic Times
Rupee outlook improves as foreign inflows return
Positive+51
GreyOak summary
Axis Bank reports that Indian rupee pressure eased in November due to returning foreign portfolio inflows of $9.6 billion and softer global oil prices. Despite the merchandise trade deficit widening to $40 billion in October, driven largely by a $5 billion gold deficit, the current account deficit is expected to remain around 1% of GDP. The bank views the trade gap as seasonal rather than a structural shock.
What it affects
- USD/INRPositive +51
Pressure eased as inflows returned.Rolling sentiment Positive +33
- FII flowsPositive +51
FPI inflows reached $9.6 billion.Rolling sentiment Positive +28
- Trade and current accountNegative -26
Trade deficit widened to $40 billion.Rolling sentiment Positive +24
- Axis BankAXISBANKNeutral 0
Rolling sentiment Neutral +2
Source
Read the original at Economic TimesMore Axis Bank news
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