Analysts at Rabobank have estimated the impact of COVID-19 on India’s economy though there is a downward risk that India might become the next virus hotspot. In this case, forecasts for the economy and INR will have to be downgraded. USD/INR is trading at 74.777. Key quotes “In our current baseline scenario, economic growth in India will go down sharply in 2020 to 3.6%. In this scenario, we assume that the virus will spread further and also affect India. “We expect the INR to continue weakening on the back of ongoing dollar strengthen over the next three months to levels well above 75.” “The INR is expected to recover somewhat by the end of the year to levels of 73 and 74.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD: Slump may continue amid markets in panic mode FX Street 2 years Analysts at Rabobank have estimated the impact of COVID-19 on India’s economy though there is a downward risk that India might become the next virus hotspot. In this case, forecasts for the economy and INR will have to be downgraded. USD/INR is trading at 74.777. Key quotes “In our current baseline scenario, economic growth in India will go down sharply in 2020 to 3.6%. In this scenario, we assume that the virus will spread further and also affect India. “We expect the INR to continue weakening on the back of ongoing dollar strengthen over the next three months to levels… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
