You are here: Home » Reuters » News
Business Standard

Corrected: Fitch sees Indian rupee weakening to 75 against dollar by end-2019

Reuters  |  NEW DELHI 

(Corrects first to clarify timeframe is end, not middle, of 2019)

(Reuters) - 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 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.

(Reporting by Malini Menon; Editing by Sanjeev Miglani)

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

First Published: Thu, December 06 2018. 11:36 IST