Rupee may bounce back in Aug on weak dollar, US rate cut hopes: BS poll

But some see it hitting 84/$ tracking Asian peers

The rupee is expected to rebound in August after depreciating 0.4 per cent against the dollar in July so far, according to the majority view in a Business Standard poll. The bounce back is likely to happen owing to a weakening greenback over expectations of aggressive rate cuts by the US Federal Reserve.

The Indian currency depreciated to a new low of 83.73 per dollar on Friday due to continuous demand for the greenback from oil importers, and weak risk appetite. Some respondents see the local currency slipping further to 84 per dollar by the close of