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Strategies & Market Trends : India Stocks

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From: Julius Wong	7/15/2009 7:14:36 AM
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Real, Yuan, Indian Rupee to Strengthen, Bank of America Predicts By James Regan July 15 (Bloomberg) -- The Brazilian real, China’s yuan and India’s rupee are all likely to strengthen about 10 percent against the dollar in the coming year, according to Bank of America Corp. strategist Michael Hartnett. “The advantages that will drive these currencies higher are a combination of being net long natural resources (Brazil) as the global economy works its way out of recession and stronger relative growth rates (China and India),” Hartnett, who is based in New York, wrote in a research note dated yesterday. The analyst also recommended investors add to their holdings of global stocks, predicting equities will rally as economic growth returns. Bank of Amercia economists “believe the global recession ended in the second quarter of 2009 and a fragile recovery has begun in the third quarter,” he wrote. bloomberg.com

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