At the Express Adda event, global investor Ruchir Sharma predicted that the Indian rupee, currently around 84 against the US dollar, could strengthen to 80, not weaken further to 90.
Sharma, who heads Rockefeller International and Breakout Capital, emphasized that a strong dollar benefits the US, while a weak dollar drives capital into emerging markets like India. He believes that a weakening dollar could lead to more capital inflows into India, potentially lowering interest rates. He also noted that central banks have been diversifying their reserves by purchasing gold and smaller currencies like the Swiss Franc, following the US sanctions on Russia in 2022.