26 February 2018
India: It’s not a confidence crisis yet

It may be too early to call it a crisis but the present weakening pressure on the Indian rupee is unlikely to go away any time soon    

USD/INR spike above 65

The Indian rupee (INR) breached above the 65 level against the US dollar this week, a level previously seen in November. The week looks set to end with the biggest weekly INR depreciation since the third week of November 2016, when demonetisation hit the currency hard. A deluge of negative news from derailed consolidation of public finances, which first came to the fore in the third quarter of 2017, to last week’s report of a $1.8bn scam at a nationalised bank have depressed the currency. India’s broader economic performance hasn’t been any friendlier either.

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Good MornING Asia - 26 February 2018

China's Communist Party to recommend end of 2-term limit - Fed's Powell tops the billings in G-7. Draghi also speaks to the European Parliament in Brussels, and UK PM May and UK opposition leader, Corbyn, set out visions for Brexit.

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