USD/INR to be around 82.50 levels by end-2023 – Deutsche Bank USDINR India Banks
“We expect the RBI to be proactively involved in FX intervention, to keep Rupee broadly within the 80-83 range, though we don't rule out intermittent overshoot and undershoot from time to time.” As far as the need for replenishing FX reserves are considered, one potential positive could be if DXY continues to weaken meaningfully through 2023. This can then add to valuation gains for INR and push up FX reserves .
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