Forex Flash: USD/INR to trade to 52 by year end - HSBC

FXstreet.com (Córdoba) - HSBC's degree of caution towards the INR has somewhat subsided after the government announced reforms to address the twin deficit problem and boost investor confidence. "That said, we still acknowledge the implementation risks and political obstacles to these reforms", HSBC says.

"We now target USD-INR to trade to 52 by year end and see the INR continuing to appreciate next year versus the USD, with a forecast of 49 by the second half of 2013", they add.