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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

Reuters 

rupee

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.

First Published: Thu, December 06 2018. 11:43 IST
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