Rupee may gain ground as crude prices ease and FCNR inflows rise, says Navneet Damani (opens original article in a new tab)

The Indian rupee may appreciate due to lower crude oil prices and increased FCNR(B) inflows, according to Navneet Damani.

• Lower crude oil prices may help the Indian rupee appreciate by reducing trade deficit pressure.
• FCNR(B) deposit reforms could attract $50-70 billion in foreign capital inflows.
• Rupee may stabilize around 92-93 levels if oil prices remain between $75-85 per barrel.
• Geopolitical developments and policy implementation will affect the sustainability of rupee gains.