Narrowing current account deficit will help the Indian rupee appreciate against the US dollar to around 79 by the second half of the current fiscal year, according to Tanvee Gupta Jain, the chief India economist at UBS Securities. While expecting the rupee to be volatile in the short term, Jain sees the local unit gain towards 79 against the greenback by the end of FY24, thanks to a narrowing CAD and weaker dollar volatility index. The agency estimates crude prices to average $80/barrel in FY24, down from $95 a barrel in FY23.
Citi bullish on Indian equities, sees Nifty at 28,000 by end-2027
Citi Research projects that India’s benchmark Nifty 50 index could hit 28,000 points by the end of 2027. This forecast is based on strong earnings
November 9, 2026