INR: Firm PMI reports amid rupee weakness – Commerzbank
Source Fxstreet
India's January PMI reports indicate healthy economic expansion, with services and manufacturing PMIs showing improvement. However, the Indian Rupee continues to weaken against the Dollar, driven by equity outflows and import demand. Commerzbank FX Analyst Charlie Lay expects the Reserve Bank of India to take measures to slow the rupee's decline.
PMI growth contrasts with rupee weakness
"The flash January services and manufacturing PMI reports for India continue to point to healthy economic expansion."
"Many of the factors that drove INR’s weakness last year are still in place."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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