5/26/2016 Rupee seeing moderate volatility amid Fed actions: Report : PTI feed, News  India Today

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May 25, 2016 | UPDATED 20:40 IST

Mumbai, May 25 (PTI) Currencies across the globe seem to be largely guided by actions ofthe US Federal Reserve, with rupee witnessing only moderate volatility, says a report by CareRatings.

According to the credit rating agency, the single most important factor that is affecting thecourse of currencies is the Fed action or inaction related to interest rates.

The Indian rupee has witnessed a moderate volatility so far this year and its movement

Rupee seeing moderate volatility amidFed actions: ReportPTI

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5/26/2016 Rupee seeing moderate volatility amid Fed actions: Report : PTI feed, News  India Today

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towards Rs 68-69 during the year looks likely, it said.

The volatility (on annualised monthly basis) has been really high for some of the currenciessuch as those of Argentina, Russia, South Africa, Brazil, Australia and Mexico.

As per the report, the rupee has been following an uneven path in 2016 and has behavedquite well during this period, guided partly by the fundamentals as well as selectiveintervention from the RBI.

The agency observed that besides the Fed monetary action, the rupee is also beingin�uenced by lower growth in trade deꘃfcit as well as current account deꘃfcit, positive FPI�ows in April and May and movement of interest rates in India based on RBI policy stance.

"The reaction of currencies across the world was negative as it is assumed that higher ratesin the US will cause a reverse �ow of investment from the rest of the world to the US and asthe dollar would strengthen, the other currencies would be impacted," Care Ratings said.

"There is hence a good deal of volatility in the market every time the Fed has to make itsannouncement as another 25 bps hike would have the potential to impact investment �ows,"it added.

The Fed had increased rates by 25 bps on December 16, convinced that the US economywas on the recovery path and that policy would have to be proactive to contain a targetedin�ation rate of 2 per cent.

"However, conditions have been quite uncertain since then," the report noted.

While the emerging markets are expected to do better than the developed countries, thelatter would be showing improved growth relative to 2015, it added. PTI SSM NRB ABM BAS 

 

This is unedited, unformatted feed from the Press Trust of India wire.

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# moderate volatility # Fed monetary action # credit rating agency # PTI SSM NRB # RBI policystance # current account deꘃfcit # targeted in�ation rate # Fed action # currencies # bps hike

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5/26/2016 Rupee seeing moderate volatility amid Fed actions: Report : PTI feed, News  India Today

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5/26/2016 Rupee seeing moderate volatility amid Fed actions: Report : PTI feed, News  India Today

http://indiatoday.intoday.in/story/rupeeseeingmoderatevolatilityamidfedactionsreport/1/677393.html 8/9

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5/26/2016 Rupee seeing moderate volatility amid Fed actions: Report : PTI feed, News  India Today

http://indiatoday.intoday.in/story/rupeeseeingmoderatevolatilityamidfedactionsreport/1/677393.html 9/9

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