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Fitch projects rupee to weaken to 75 against dollar by 2019 end

Press Trust of India  |  New Delhi 

Ratings Thursday projected to fall to 75 to a dollar by end of 2019, on widening of deficit and tighter global financing.

The Indian is currently trading at a two week low level, hovering around 71 to a US dollar.

In its Global Economic Outlook, said it expects inflation to edge up mildly in the coming months, on normalising and higher import prices stemming from the depreciation of the

The widening of the deficit amidst tighter global financing conditions should put downward pressure on the currency, and we forecast the INR to weaken to 75 against the dollar by end-2019, added.

The domestic unit is one of the worst performing currency against the USD in so far this year and had breached the level of 74 against the US dollar in October.

On October 9, the rupee fell hit at a lifetime low of 74.39 against the US dollar on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 13:45 IST