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After depreciating 1.29 per cent against the dollar this financial year, the rupee is expected to weaken more because of West Asian military conflicts, with the expectation that prices of crude oil will rise.
According to a Business Standard poll, the majority of the respondents expect the rupee to depreciate to 87 a dollar by the end of July.
However, the local currency is seen regaining ground against the greenback by the end of September.
The rupee settled at 86.59 on Friday. Crude oil prices remain a significant “idiosyncratic” risk for the rupee, said a market participant. A spike in
