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Rupee could slip to 75 against dollar by end-2019 on widening CAD: Fitch

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

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The rupee opened at 71.12 a dollar, and closed at a near three-month high of 70.69

Last Updated : Dec 06 2018 | 12:12 PM IST

Fitch Ratings said on Thursday it expects the Indian currency to weaken to 75 rupees against the U.S. 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.