“In terms of the real economic fundamentals, we are fine but the political uncertainty screwed us up,” Ismail said in a phone interview on Wednesday. “Fundamentally the rupee is fine, there is not much pressure on rupee in the market and we should be okay, and I think that there may be some reversal.”
Emerging-market currencies are feeling the heat as the hawkish Federal Reserve lures capital toward the US. The panic in the South Asian markets also comes from escalating risks after former premier Imran Khan’s by-election win added to concern over the country’s bailout deal with the International Monetary Fund, which it needs to avoid a default.
Comments
Post a Comment