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According to economists from the Monetary Policy Committee and JPMorgan, any appreciation in the Indian currency is expected to be limited in 2024-25 when foreign inflows will pour into Indian sovereign debt due to multiple reasons.
Currencies around the world have weakened against the dollar, but the rupee has held strong, as virtually everything has gone right for India.
“Some people have already started buying in the market. We expect some more people to start buying maybe in the second week of January onwards. I do not think people are going to wait till June inclusion so there will be enough buying coming in with the new calendar year coming in.”
And that is where we spiked up. I think it will still now track US yields tomorrow, it does not look like, but if hypothetically, if US will drop down, then definitely we will see some relief there on the bond side.
It has been a year of meticulous productivity and many successes for India, the world's fifth largest economy, and there are still more than two months to go.