The latest Reuters poll of analysts and fund managers showed Thursday, investors turned bearish on the Indian rupee, with the short bets spiked to the highest in 20 months.

Key findings

“Bullish bets on the Chinese yuan hit their highest since early June.”

“Short positions on the Indian rupee were raised to their highest since April 2020, while bearish bets on the Singapore dollar, Indonesia's rupiah and the Malaysian ringgit also increased, a fortnightly poll of 10 respondents showed.”

“Short bets on the baht the worst performer among Asia's emerging markets with a more than 10% slump in value.”

“Bearish views on South Korea's won were lowered as the currency benefited from an influx of foreign funds into local debt and equity.”

• USD/INR Price Analysis: Indian rupee bears need validation from 76.60 for further ruling