ADVERTISEMENT
Rupee To Decline To 75 Per Dollar By End-2019, Says Fitch Ratings
06 Dec 2018, 11:46 AM IST
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.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT