China's Yuan Becoming Ever More Vital for India, Barclays Says.

India is expected to take measures to ensure that its currency, the rupee, remains competitive with the weakening Chinese yuan in order to protect its export competitiveness, according to Barclays Plc. The depreciating yuan puts pressure on India due to its expanding trade deficit with China and the similarity in their export profiles. The analysts suggest that India will closely monitor the exchange rate between the rupee and the yuan and will likely not allow any significant deviation from the current range. Barclays expects the CNH/INR currency pair to trade around 11.50 in the coming weeks. [Extracted from the article]