Goldman backing rupee despite slide

GOLDMAN SACHS IS advising clients to take a bullish position on the rupee, using an exotic option structure, despite its latest slide towards its all-time low.

- REUTERS

Taking positive cues from developments in IndiaUS trade negotiations, analysts at Goldman Sachs expect the rupee to appreciate by 1-2% if US tariffs on Indian goods are set at or below 25%. The upbeat view comes despite the currency on Monday dipping near its lifetime low of 88.80 to the dollar. The currency closed at 88.7775.