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Journalism of Courage
The Indian rupee will remain a regional underperformer in 2012 due to the country8217;s fragile external position,Royal Bank of Scotland said.
July-September FY12 fiscal year ending March 2012 external data underscores our longstanding view that the INR would remain a regional underperformer in 2012,RBS said in a note dated Monday.
The size of the current account deficit,short term external debt and the high share of portfolio capital and external borrowings in external reserves highlight a fragile external position,RBS said.
The bank said rupee valuations that are close to 2009 lows look attractive but are more reflective of the currency8217;s poor fundamentals.
