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Rupee to hit 56 in near-term: Barclays Capital

The rupee will gain to 48/dollar in one year, BarCap also forecasts

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Reuters Mumbai

Barclays Capital expects spot rupee to hit 56 in one month and then subsequently rise only to 54 within three months; the USD/INR is currently at 54.85.

BarCap cites "high" sensitivity to global market sentiment, "limited" appetite for the RBI intervention and "weak" macro fundamentals, in a reported dated May 17.

The rupee will gain to 48/dollar in one year, BarCap also forecasts.

BarCap's near-term rupee view is much more bearish than a Reuters poll this week, which shows consensus forecast at 53.41 by end of June.

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First Published: May 18 2012 | 1:16 PM IST

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