The Indian rupee will break through 85 per U.S. dollar to hit a new low in the next six months even as the Reserve Bank of India continues to intervene to stem the currency's losses, according to a Reuters poll of FX strategists. The results come days after news that growth in India, the world's fastest growing major economy this year, unexpectedly slowed sharply to an annual 5.4% in the latest quarter, triggering speculation the RBI may cut interest rates on Friday. Only five of the 67 economists polled by Reuters in late November expected a rate cut at this month's meeting, with most opting for two quarter-point moves in the first half of 2025. In the meantime, U.S. President-elect Donald Trump's proposed tariffs, which are widely expected to create more inflation in the world's largest economy, have pushed up the dollar by nearly 6% since October. Since early October, the RBI has spent nearly $50 billion from its vast FX reserves to shield the rupee from the dollar's relentless strength, but it still weakened to a record low of 84.74/$ on Tuesday. Stock Trading Advanced Strategies in Stock Market Mastery By - CA Raj K Agrawal, Chartered Accountant View Program Stock Trading Point & Figure Chart Mastery: A Comprehensive Trading Guide By - Mukta Dhamankar, Full Time Trader, 15 Years Experience, Instructor View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Cryptocurrency Made Easy: Cryptocurrency Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Technical Analysis Demystified: A Complete Guide to Trading By - Kunal Patel, Options Trader, Instructor View Program Stock Trading Options Trading Course For Beginners By - Chetan Panchamia, Options Trader View Program Stock Trading Futures Trading Made Easy: Future & Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Mastering Options Selling: Advanced Strategies for Success By - CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader View Program Stock Trading Commodity Markets Made Easy: Commodity Trading Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Stock Investing Made Easy: Beginner's Stock Market Investment Course By - elearnmarkets, Financial Education by StockEdge View Program Foreign investors have pulled more than $13 billion from the country over the same period. The Dec. 2-4 Reuters poll of 41 FX strategists forecast the rupee to trade around 84.85 to the dollar and 85.12 to the dollar in three and six months, respectively, survey medians showed, new lows. The rupee was trading at around 84.72/$ on Wednesday. "The only way for USD/INR is weaker, and this time around it's even more pressing for two reasons. One is the external headwinds... and the second is the domestic macro mix has changed for the worse," said ANZ FX strategist Dhiraj Nim. "With every Trump tweet, you have some FX pressure being felt for EM currencies, especially if your own country is being named," he said, adding the rupee was expensive compared to other Asian currencies and probably has to weaken more. Median forecasts showed the currency would weaken around 1% to 85.49 to the dollar in a year, with expectations ranging from 82.17 to 88.00. The trade-weighted real effective exchange rate (REER) shows the rupee is overvalued by around 7%, according to RBI data. This suggests there is plenty more scope for the RBI to manage a steady decline in the currency. "We are still the fastest-growing economy in the world and I do expect the downturn can be countered by more government spending, small cuts in interest rates and keeping the currency weak in the way it has been kept so far," said Anil Bhansali, head of treasury at Finrex Treasury Advisors. (Other stories from the December Reuters foreign exchange poll) (You can now subscribe to our ETMarkets WhatsApp channel )French government falls in historic no-confidence voteTrump's tariff threat a grim reminder of turbulent trade in first administrationAnsu Fati's talent is undeniable. The young forward has shown flashes of brilliance on the pitch, demonstrating his skill, speed, and scoring ability. However, a series of unfortunate injuries has hampered his progress and raised questions about his durability and ability to stay fit over the long term. Barcelona's decision-makers face a dilemma: do they invest in Fati's potential and hope that he overcomes his injury woes, or do they consider other options for the future of the talented young forward?
Set against the backdrop of the Spring Festival, a time of renewal and new beginnings in Chinese culture, "Ne Zha 2" explores themes of redemption, self-discovery, and the power of friendship. As Ne Zha faces new challenges and foes, he must once again confront his inner demons and overcome his past in order to protect his loved ones and his home.As Théo continues his preparations for a potential return to competitive action, fans will be eagerly anticipating his first appearance back on the pitch. The forward's return adds another dimension to Bayern Munich's already formidable attacking lineup, with Théo's pace, skill, and intelligence set to cause problems for opposition defenders. With Théo back in the mix, Bayern Munich will be aiming to maintain their winning ways and continue their pursuit of domestic and European success.
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