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

Reuters  |  NEW DELHI 

(Reuters) - said on Thursday it expects the to weaken to 75 rupees against the U.S. dollar by the middle of next year on a widening deficit and tighter global financing conditions.

Despite a few recent advances, the 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 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. 11:30 IST