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Is the new low just the beginning? Former India central bank officials hint at "relaxing Forex controls". How much further will the rupee fall?
Former central bank officials hinted at "easing Forex controls," causing the rupee to briefly dip below the 86 mark. Mitsubishi UFJ believes that the current account deficit as a percentage of GDP is widening, foreign direct investment (FDI) performance is disappointing, and under the risk of Trump 2.0 tariffs, the rupee will fall to 86.80 in the first quarter and to 88.50 in the fourth quarter.
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With corporate profits slowing and foreign investment withdrawing, the Indian stock market is expected to underperform against major Global peers in 2024.
The Nifty 50 Index and the Sensex Index rose by 8.8% and 8.2% respectively this year, marking the ninth consecutive year of growth.
The demand for India's ten-year government bonds is strong, with yields recording the largest annual decline in four years.
The India 10-Year Treasury Notes Yield experienced the largest decline in four years in 2024.