Indian Rupee seems vulnerable amid unabated foreign fund outflows
- India’s real GDP growth slumped to a seven-quarter low of 5.4% in the July to September 2024 quarter from a 6.7% growth in the first quarter (Q1). The RBI forecast GDP growth of 6.8% in Q2.
- "Despite the sharp slowdown in GDP growth, we maintain our view of a pause by the RBI next week given elevated inflation and an uncertain global environment," noted Upasna Bhardwaj, chief economist at Kotak Mahindra Bank.
- US President-elect Donald Trump said on Saturday that the BRICS Countries should use the US Dollar (USD) as their reserve currency and threatened to impose a 100% tariff if they supported another currency to replace the USD, per BBC.
- The US ISM Manufacturing PMI is expected to improve to 47.5 in November from 46.5 in October.
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