The increased likelihood of an effective vaccine being developed is encouraging news for India. But even widespread vaccination would not restore India to economic health, and we would still expect output to remain substantially below its pre-virus trend for several years. Meanwhile, we’ve revised our rupee forecasts. The big picture is that the rupee will weaken further in trade-weighted terms over the coming years.
– We are sending this Weekly one day earlier than usual because our Singapore office is closed for a Public Holiday on Friday, 13th November –
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