Where is the rupee headed? Experts weigh in

Rupee hit a record low of 70 to the US dollar, making it the worst currency in the Asian region thus far in calendar year 2018 (CY18). The fall comes on the back of Turkey-led sell-off over the past few sessions. 

"The Turkish lira (TRY) has plunged 25% in a week (45% year to date). A heady mix of high foreign debt, large CAD and deteriorating political situation has rendered Turkey quite vulnerable. But what has been perhaps more critical is the upward pressure on global interest rates in 2018 owing to an aggressive Fed and US fiscal stimulus. How