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Rupee may stay near record low over trade war risk, rising oil costs: Poll

The rupee was forecast to weaken to 68.90 per dollar by June 2019, according to a poll of 45 strategists taken July 2-5

Reuters  |  Bengaluru 

Global trade tensions and rising oil prices are expected to weaken India's rupee over the next year, a Reuters poll has found, dragging the currency closer to the record low hit last week against the dollar.    While economic growth has picked up and India has retained its spot as the fastest growing major economy this year, the rupee hit an all-time low of 69.09 per dollar last week and is the worst-performing currency in Asia this year. The rupee, already down more than 7 per cent this year, has been pressured by a sell-off in emerging markets driven by the daily ...

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First Published: Fri, July 06 2018. 10:02 IST