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.
Image for representation. (Illustration by Mir Suhail/News18)
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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