THE5ERS
Sep 16, 8:08 AM
$INR is not crashing. The oil bill is.
USD/INR near 96. July high above 96.90. Brent over
$107. India imports ~89% of its crude.
CPI 4.82%. WPI 9.92%. Energy is in the print.
RBI can intervene. It cannot hedge the whole current account if crude stays here. IT and pharma FX help. Not enough alone.
Range talk is 95.50 to 98 into year end. 96.10 is the near line.
$INR $UUP $USO.X
#Rupee #USDINR #Oil #RBI #India
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