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94.00 gives way as flows push USD/INR lower – Societe Generale
Brent has fallen below $90, Societe Generale’s Kenneth Broux and co-authors note. They highlight the support this provides for India’s terms of trade, alongside stronger portfolio inflows into FAR‑eligible bonds and equities.
Rupee Advances as Lower Oil Prices Provide Support
"USD/INR trades below 94.00 for the first time since April and USD/MXN extends below 18.50 which has more to do with the rebound in stocks than slump in energy prices."
"The decline in Brent below $90/b is bolstering the terms of trade of India but has also been accompanied by a sharp improvement in portfolio flows."
"Together, those factors have helped deflate USD/INR below 94.00 for the first time since April."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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