Rupee futures almost at 49
The October rupee future at the NSE is trading above 49:
And Morgan Stanley’s expecting worse: Real, Rupee to Lead Emerging Currency Drop, Morgan Stanley Says
Brazil’s real plunged 30 percent over the past three months, Poland’s zloty is down 22 percent and India’s rupee 10 percent as so-called carry trades are unwound and domestic importers and exporters reassess currencies. Slowing global growth will cut capital flows to emerging markets to between $400 billion and $450 billion from $750 billion in 2007-08.
“We are likely to see a global EM currency `moment’ in contrast to history, which is marked by regional currency crises.”
Related Posts:
