Rupee nearing bottom, won't breach 74-mark: TCS' global treasury head

India's rate-setting panel will deliver at least two hikes in benchmark borrowing rates this year, estimated Venkatesan

The past month’s worst-performing emerging market currency is nearing a bottom, according to the head of global treasury at Asia’s largest software exporter Tata Consultancy Services Ltd.

The Indian rupee has dropped 3 per cent over a month, the biggest slump among 24 emerging markets tracked by Bloomberg. It fell to a new record on Thursday and is inching closer to 74 against the dollar. The currency won’t drop much further with the Reserve Bank of India and government taking “adequate measures” to arrest declines, T Venkatesan, TCS’s global treasury head, said in an interview at his office in Mumbai.

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