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Rupee To Decline To 75 Per Dollar By End-2019, Says Fitch Ratings

Rupee Vs Dollar: Rupee fell to a two-week low of 71.04 against the dollar in early trade on Thursday, mimicking most Asian currencies.

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Rupee To Decline To 75 Per Dollar By End-2019, Says Fitch Ratings

INR Vs USD: Widening current account gap, tight global financing conditions to affect rupee, says Fitch.


NEW DELHI: Fitch Ratings said on Thursday it expects the rupee to weaken to 75 rupees against the US dollar by the end of next year on a widening current account deficit and tighter global financing conditions.

Despite a few recent advances, the currency 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.

 

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