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Fitch sees Indian rupee weakening to 75 against dollar by end-2019

Fitch Ratings said on Thursday it expects the Indian currency to weaken to 75 rupees against the U.S. dollar by the end of next year

Fitch sees Indian rupee weakening to 75 against dollar by end-2019
Fitch Ratings said on Thursday it expects the Indian currency to weaken to 75 rupees against the U.S. dollar by the end of next year. Source: Pixabay

Fitch Ratings said on Thursday it expects the Indian currency to weaken to 75 rupees against the U.S. dollar by the end of next year on a widening current account deficit and tighter global financing conditions.

Despite a few recent advances, the rupee is on track for its worst yearly performance in five years in 2018 and a Reuters poll on Wednesday had forecast it to weaken further as uncertainty builds, heading into national elections due by May.

The currency fell to a two-week low of 71.04 against the dollar in early trade on Thursday, mimicking most Asian currencies. 
 

Written By: Reuters
Updated: Fri, Dec 07, 2018
09:44 am
Reuters
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