{"id":1287297,"date":"2024-11-13T12:58:32","date_gmt":"2024-11-13T07:28:32","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1287297"},"modified":"2024-11-13T13:06:48","modified_gmt":"2024-11-13T07:36:48","slug":"rupee-can-weaken-upto-10-under-trump-as-per-forex-experts","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/rupee-can-weaken-upto-10-under-trump-as-per-forex-experts\/","title":{"rendered":"Rupee Can Weaken Upto 10% Against Dollar Under Trump, As Per SBI"},"content":{"rendered":"\n

A recent SBI research report predicts that the rupee may depreciate 8-10% against the U.S.. dollar during the Trump 2.0 regime.<\/p>\n\n\n\n

\"Rupee<\/figure>\n\n\n\n

Rupee May Depreciate During Trump Reign<\/strong> <\/p>\n\n\n\n

While that being said the local currency hit its all-time low on Monday (November 11, 2024).<\/p>\n\n\n\n

Here, we are talking about a report<\/a>, titled U.S. Presidential Election 2024: How Trump 2.0<\/a> Impacts India\u2019s and Global Economy.<\/p>\n\n\n\n

This report emphasized that the rupee can have a brief spell of depreciation against the U.S. dollar, followed by appreciation.<\/p>\n\n\n\n

It appears that Donald J Trump\u2019s historical comeback as the 47th President of the United States adds a morphine shot to the markets.<\/p>\n\n\n\n

 This would affect the select asset classes even as the focus is now shifting to wider economic ramifications and supply chain realignments, as per this  report.<\/p>\n\n\n\n

Further highlights, “Trump’s victory introduces a mix of challenges and opportunities for India. While the potential for increased tariffs, H-1B restrictions, and a strong dollar could bring short-term volatility…But it also presents India with long-term incentives to expand its manufacturing, diversify export markets, and enhance economic self-reliance.” <\/p>\n\n\n\n

The 10-year yield shows no obvious trends, and the effect will be context-sensitive, going ahead, the report noted.<\/p>\n\n\n\n

The Fear Is Unfounded <\/strong><\/p>\n\n\n\n

According to the SBI’s study, “USD\/INR has shown range bound movement, and the rupee can have a brief spell of depreciation followed by appreciation…Volatility in Indian equity markets showing signs of reduction.”<\/p>\n\n\n\n

This appears to have started as the Rupee started declining for the fourth straight session and dropped 2 paise to hit a new lifetime low of 84.39 (provisional) against the US dollar on Monday.<\/p>\n\n\n\n

It seems to have been weighed down by persistent foreign fund outflows and a muted trend in domestic equities.<\/p>\n\n\n\n

The rupee is likely to remain under pressure unless there is a softening in the dollar index or a slowdown in foreign fund outflows, said the Forex traders.<\/p>\n\n\n\n

Interestingly this report emphasized that “the fear” that the rupee will depreciate sharply is unfounded.<\/p>\n\n\n\n

To support this theory, the rupee depreciated by 11 percent during Trump 1.0 which is less than it depreciated during the Joe Biden term, the report said.<\/p>\n\n\n\n

This holds a great significance as a stronger dollar might result in short-term capital outflows for short-term as investors flock to dollar-based assets.<\/p>\n\n\n\n

On the positive side, a lower rupee might provide an export advantage, potentially boosting revenues in sectors like textiles, manufacturing, and agriculture, as per the research report.<\/p>\n\n\n\n

But, the depreciation of the rupee may increase the import cost of oil and other commodities.<\/p>\n","protected":false},"excerpt":{"rendered":"

A recent SBI research report predicts that the rupee may depreciate 8-10% against the U.S.. dollar during the Trump 2.0 regime. Rupee May Depreciate During Trump Reign  While that being said the local currency hit its all-time low on Monday (November 11, 2024). Here, we are talking about a report, titled U.S. Presidential Election 2024: […]<\/p>\n","protected":false},"author":27,"featured_media":1287311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5723,6438],"class_list":["post-1287297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-rupee","tag-trump"],"acf":[],"yoast_head":"\nRupee Can Weaken Upto 10% Against Dollar Under Trump, As Per SBI - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/rupee-can-weaken-upto-10-under-trump-as-per-forex-experts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rupee Can Weaken Upto 10% Against Dollar Under Trump, As Per SBI - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"A recent SBI research report predicts that the rupee may depreciate 8-10% against the U.S.. dollar during the Trump 2.0 regime. 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