Revise USD/INR trading range lower on JPMorgan bond index inclusion - IDFC

IDFC First Bank

22/09/2023 03:24

* JPMorgan announcement to include India bonds in its
emerging
market bond index to aid INR sentiment, IDFC First Bank says in
a note
    * Revises down USD/INR trading range to 81.50 to 83.50 (from
82 to
84) for remainder of current fiscal year
    * Real impact will be in FY25 when actual inflows come, bank
says
    * Expects JP Morgan index related inflows to be about $18.9
bln in
FY25
    * Estimates FY25 current account deficit at 2% of GDP or $81
bln
    * USD/INR closed at 83.09 on Thu, expected to open at around
82.80
    * For more click on  FXBUZ  


 (Reporting by Nimesh Vora)
 ((nimesh.vora@tr.com))