Rupee to hit 93 per dollar if pressures persist: ANZ's Dhiraj Nim warns

• Dhiraj Nim of ANZ Research predicts the Indian rupee could slide to 92.5-93 per dollar if current pressures continue.
• Stabilization requires meaningful GDP pickup, easing earnings stress, improved current account deficit, and increased FDI flows.
• Nim attributes rupee weakness to continued outflows from Indian markets and persistent real money flows like corporate hedging demand.
• The Reserve Bank of India (RBI) appears to be tolerating the rupee's decline, less likely to intervene aggressively due to fundamental flow pressures.
• Indian bond yields are rising due to domestic factors like weak rupee discouraging foreign inflows, fiscal stress, and inflation expectations.

Why It Matters: The Indian rupee faces further depreciation to 92.5-93 per dollar due to fundamental pressures and RBI's tolerance.