Downside Risks To Won And Rupee Forecasts

September 2008 | Market Alert

BMI View: We reiterate our bearish view on the South Korean won and the Indian rupee. Macroeconomic data releases over the coming week are likely to weigh further on both currencies and increase the demand for US dollars as domestic companies struggle to raise foreign currency to meet liabilities. We see the won breaking through the KRW1,200/US$ level in the short term and the rupee moving decisively through the INR47.00/US$ level, raising downside risks to our year-end forecasts.

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