INSUBCONTINENT EXCLUSIVE:
Rupee is the worst-performing currencies in Asia and has shed almost 8% this year.Global trade war and crude oil prices are going to
influence the Indian rupee's movement against the US dollar in the coming week, experts said
Rupee touched an all-time low on Thursday by breaching the 69-mark vis-a-vis US dollar
On Friday, rupee closed at Rs
"Going forward, unless oil prices come off substantially, we expect the rupee to follow a path of depreciation against most of the developed
world currencies, especially against the US dollar," Anindya Banerjee, deputy vice-president for currency and interest rates with Kotak
towards 71/72 before the FY19 draws to a close
Over the next week, a range of 67.80 to 68.80 can play out.""We see the Indian rupee headed towards the 69.2-mark against the US dollar
The pressure on current account deficit, rising crude oil prices and uncertain political scenario are the main reasons for the rupee's
depreciation," the agency cited Prathamesh Mallya, chief analyst for commodities and currencies at Angel Commodities Broking, as
during the week ended June 29 at 69 per US dollar-mark.It closed at 68.47, weaker by 63 paise from its previous week's close of 67.84 per
greenback."Over the week the rupee fell 0.92 per cent As the global equities market seem to have stabilised for the time being, the rupee
may not breach the low of 69.09 in a hurry
However, it may remain under pressure later based on evolving global developments," said Deepak Jasani, head of retail research at HDFC
Philippine peso.The current slide in the rupee will not be prolonged as it has adequate "firepower" of foreign exchange reserves to deal
is being driven by global factors, including proposed US sanctions on Iran and the mismatch in demand and supply of oil, he had said.
