Rupee Not Yet Ready for Structural Appreciation?

Chetan Ahya of Morgan Stanley GEF does not think that Rupee will appreciate much in case the Chinese decide to revalue renminbi later this year.

If the Chinese RMB appreciates by 10%, speculative forces could result in the rupee appreciating by 2%. We believe that there is little merit for the rupee to witness any meaningful appreciation considering the current macro fundamentals.

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