Amid currency war, rupee may touch 70 a dollar by December: BS poll

The Indian rupee has lost more than 6.5 per cent and has hit its lifetime low of 69.10 a dollar in June-end

In a world getting rapidly sucked into a currency war vortex, India seems to be offering some stability, thanks to the relatively low export dependence of the economy and a country that is more inward-looking than others for its economic activities.

But that does not mean a full-blown currency war will not affect the rupee. If China’s currency devalues, there will be adjustments by other currencies including the Indian rupee, in the region.

A Business Standard poll of 10 currency experts, bank treasurers, and economists predict the rupee to be almost touching 70 a dollar by December. The pressure should