Goldman, SocGen See Rupee Gains From Potential Modi Reelection [Financial Post (Toronto, Ontario, Canada)]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly. Strategists from Goldman Sachs Group Inc. to Societe Generale SA are expecting the Indian rupee to get a boost should Prime Minister Narendra Modi win a third term in elections. Article content Article content “The high probability of policy continuity post election is likely to benefit the Indian rupee,” Kiyong Seong, lead Asia macro strategist at Societe Generale wrote in a note. The currency remains a favored Asian currency, according to Goldman Sachs. The Indian rupee is already emerging as Asia's top performer when the central bank has tamped down volatility with near-record reserves thanks to foreign flows into government bonds ahead of India's inclusion
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