Rupee outperforms EM Asia peers even as it approaches record low

August 20, 2023 at 9:30 PM EDT

Updated on

August 21, 2023 at 1:27 AM EDT

The Indian rupee is within a whisker of a record low, but it’s still a favored emerging-market currency with some investors.

A reserves stockpile of $600 billion, more than $16 billion worth of foreign inflows for stocks this year and economic growth forecast at 6.5% are among the reasons behind the optimism for Neuberger Berman Singapore and Columbia Threadneedle Investments.

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Rupee Outperforms EM Asia Peers Even as It Nears Record Low