How will the Indian rupee in 2019 be? How will the rupee in 2019 pan out?
Everyone is concerned about this simple question; one that has multiple effects on every single sector and sphere of the Indian economy. So, do you have any verdict on how would the rupee in 2109 be?
Here’s a simple rewind to the not so distant past.
2018 was a year of tiny recovery for the rupee after it had plunged to severe lows, especially when compared to the US Dollar. Fact. No-one can question or outrun that reality.
2017 was a year where everyone was getting used to what had largely seemed a knee-jerk reaction. 2016 is where it all started. 2016 is where the rupee became, all of a sudden, a surprising and rather tormenting currency. Didn’t it?
The Indian rupee is one of the world’s most interesting currencies for the simple reason that it is hardly ever put to rest; or allowed to simply, be.
So now, what are the experts suggesting what might the future be for the Indian rupee in 2019? Well, where the immediate future stands, then here’s what we ought to know. The tumbling oil prices have sort of delivered a warm present to the currency market just around Christmas.
This development, according to the strategists, who’ve all largely witnessed a sharp descent of the Indian rupee in 2018, is basically the best that the rupee has ever gotten into being in a quarter, since March 2017.
Having said that, let’s not forget that what exactly made 2018, a year renowned for bringing out the worst in the Indian rupee. There’s hardly a surprise that elevated energy costs combined with a strong American dollar plunged the Indian rupee to its worst depths.
However, things might be in for a change where the New Year is concerned.
Given that the world economy is currently witnessing a slump in crude, along with the realization that the hopes of Federal Reserve working toward a slowdown in the wake of tigthening are real could all make for a smashing comeback for the Indian rupee in 2019.
There you have it. Not our claim. Not a vicious fallacy concocted deliberately to elevate someone’s mood. The aforementioned is actually the verdict of some of the world’s top economists.
Popular Indian news platform NDTV shared the following in regards to the news about a possible comeback by the Indian rupee in 2019:
“We expect the rupee to be a top performer, particularly on a total return basis,” said Dushyant Padmanabhan, a strategist at Nomura Holdings Inc. in Singapore. “We expect a reversal of the underperformance from prior months and some recovery amid low oil prices, a less hawkish Fed and an improving portfolio flow outlook.”
The economic indicators suggest a positivity with regards to the performance of the Indian rupee, the following were their observations:
The rupee jumped 2.1 per cent over Monday and Tuesday, its biggest two-day gain since September 2013, before ending little changed on Wednesday. The currency is up 3 per cent this quarter, the best performance in Asia after Indonesia’s rupiah.