Anant Narayan of Standard Chartered Bank , is bullish on the Indian currency for the short term. However, the trade deficit still remains a cause of concern, he opined. According to him, headwinds in terms of political issues and the elections in 2014 along with issues about the fiscal deficit and ratings etc can again trigger a downside on the rupee.
In a conversation with private news channel, he highlighted that there are some good news in terms of FDI clearance, which will increase inflow of foreign funds to India, but political sustainability and trade deficit likely to keep Indian rupee in range of 54-56 against USD in short term.
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