Lakshmi Iyer foresees muted inflation and modest rate cuts in 2025 amid growth priorities
So, our view is, therefore, that the near-term pain is likely to continue, which is something we have been stating for some time. But given that there is central bank activity happening in terms of selling dollars, the pace of depreciation could be a tad muted compared to the other currencies. So, that is the view that we are carrying even right now.