Rob Minikin, FX strategist, Standard Chartered (pictured):
The early months of the new Reserve Bank of India’s (RBI) governor Raghuram Rajan’s tenure have brought welcome relief to the Indian rupee following the sharp losses of June to August. Indeed, the early policy steps have had much to recommend them. The repo rate has been hiked twice by 25 basis points as the RBI puts more emphasis on fighting inflation, even at the cost of lower near-term growth. This should help underpin the rupee’s value in the medium-term.