The Indian Rupee opened marginally higher on Friday at 68.70 after hitting a fresh record low of Rs 69.09 yesterday. Notably, various factors including crude oil prices and the onslaught of US Dollar along with a weakening Yuan have put pressure on the Rupee. The currency hit its weakest level ever of 69.0925 per dollar on Thursday, lower than its previous record from November 2016, amid a pick up in oil prices and a sell-off in developing-market assets. Analysts are predicting more pain, with Barclays Plc forecasting the rupee at 72 to a dollar by year-end while DBS Bank Ltd. sees 71 by next June, given India’s sensitivity to oil prices and their impact on the nation’s trade and current-account deficits, according to a Bloomberg report. For Any More Information Please Visit Our Official Website : www.paceresearchindia.com and Call : 8817774774Thursday 28 June 2018
Rupee Opens Marginally Higher After Hitting Fresh Low
The Indian Rupee opened marginally higher on Friday at 68.70 after hitting a fresh record low of Rs 69.09 yesterday. Notably, various factors including crude oil prices and the onslaught of US Dollar along with a weakening Yuan have put pressure on the Rupee. The currency hit its weakest level ever of 69.0925 per dollar on Thursday, lower than its previous record from November 2016, amid a pick up in oil prices and a sell-off in developing-market assets. Analysts are predicting more pain, with Barclays Plc forecasting the rupee at 72 to a dollar by year-end while DBS Bank Ltd. sees 71 by next June, given India’s sensitivity to oil prices and their impact on the nation’s trade and current-account deficits, according to a Bloomberg report. For Any More Information Please Visit Our Official Website : www.paceresearchindia.com and Call : 8817774774
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