September 20, 2018

The Indian rupee has weakened to record lows this year, but there are still bright spots on the horizon for India's economy, according to the CEO of J.P. Morgan's South and South East Asia business.

The weak currency is boosting export competitiveness for the country, corporate profits are looking good, and the consumption story in India is strong, Kalpana Morparia said at J.P. Morgan's India Investor Summit in New Delhi.

"Yes, the currency has weakened this year … but let's just put this in perspective — it's almost 5 years since the taper tantrum," she said, referring to India being one of the Asian economies that were badly hit by a wave of selloffs in 2013 after the Fed suggested it would start tightening monetary conditions.

Read more:

https://www.cnbc.com/2018/09/20/jp-morgan-indian-rupee-at-record-lows-but-good-news-for-economy.html