Go long 3-mth US dollar,Indian Rupee on twin deficits: Nomura
Nomura also sees a risk of a further slowdown in net foreign portfolio inflows in the near-term.
Written by Reuters
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Initiate long 3-month US dollar,Indian Rupee positions as structural issues relating to India8217;s large current account and fiscal deficits remain intact,Nomura said.
The central bank8217;s cautious stance on future rate cuts and the pullout of a key ally from the ruling coalition also likely to dampen market sentiment,Nomura adds.
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The investment bank says potential for further positive reform announcements and measures in the current parliamentary session ending on March 22 is low.
Nomura also sees a risk of a further slowdown in net foreign portfolio inflows in the near-term.
