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ASIA FX: Morgan Stanley Suggests Short CNH/INR Trade as RBI Curbs Volatility

ASIA FX
  • The rupee should be stronger given the state of the economy while RBI mopping up inflows should curb volatility, Morgan Stanley write in a note.
  • India’s balance of payments is improving and may be in surplus down the road, while China’s is deteriorating, according to their analysts.
  • They add that the rupee’s nominal effective exchange rate is forecast to slip 1% by year-end.

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