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The rupee is Asia's weakest currency and has lost nearly 8% this year
World trade war and crude oil prices will influence the movement of the Indian rupee against the US dollar next week. . The Rupee reached its all-time low on Thursday by crossing the 69-point mark against the US dollar. On Friday, the rupee closed at Rs. 68.47 against the dollar. "In the future, unless oil prices drop significantly, we expect the rupee to follow a path of depreciation against most developed-country currencies, especially against the US dollar," said Anindya Banerjee. Vice President Securities, told the IANS News Agency
"Over the next two months, the USD / INR could build a base between 67 and 69 on the spot, before heading to 71/72 before the end of the fiscal year 19. "
" We see the Indian rupee heading towards the 69.2 mark against the US dollar, the pressure on the current account deficit, the rise in Crude oil prices and an uncertain political scenario According to the agency Prathamesh Mallya, chief commodity and currency badyst at Angel Commodities Broking.
Lately, high crude oil prices and geopolitical developments have weakened the rupee i which had depreciated to its all-time low during the week ended June 29 at US $ 69.
It closed at 68.47, lower 63 "over last week, the rupee fell by 0.92 percent … As the global equity market seems to have stabilized for the moment, the rupee can not break through the trough of 69.09 in a hurry, but it could remain under pressure later due to the changing global situation, "said Deepak Jasani, head of retail research at HDFC Securities. [19659003] The rupee is one of the weakest currencies in Asia and has fallen by nearly eight percent this year, closely followed by the Philippine peso.
The current rupee drift will not be prolonged " Volatility is influenced by global factors, including proposed US sanctions on Iran and the imbalance of demand, "said US Secretary of Economic Affairs, Subhash Chandra Garg."
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