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Rupee to Weaken to 75 Against Dollar by End of 2019, Says Fitch Ratings

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.

Reuters

Updated:December 6, 2018, 11:59 AM IST
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Rupee to Weaken to 75 Against Dollar by End of 2019, Says Fitch Ratings
Image for representation. (Illustration by Mir Suhail/News18)
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New Delhi: Fitch Ratings said on Thursday it expects the Indian currency 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 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.

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