Expect INR at 83 by Sept end; don’t expect rate cut before Q3 of 2024: Dhiraj Nim, ANZ Research

“The Indian rupee is expected to remain in a tight range against the dollar, with a forecast of 83 per dollar by September end. The dollar index is expected to reach 105 by the end of the quarter, but this level is not easy for emerging market currencies. The Indian bond yields may rise due to high inflation and government bond supply, and there is a possibility of rate hikes by the Reserve Bank of India if food inflation persists. “