Rupee hits new low, further depreciation likely

Rupee hits new low, further depreciation likely

Indian Rupees touched low new hospital 77.87 per US dollar on Friday, after a prolonged consolidation phase because the risk of inflation has worsened.

The increase in raw prices to the highest three months because it gives a tightness to highlight the problem of inflation and causes damage to the global economy and currency value, said Sugandha Sachdeva, Vice President – Commodities and Currency Research in Religie Broking.

In addition, the World Bank cut its global growth estimates to 2.9 percent compared to the previous estimate of 4.1 percent in January also depreciated the currency, said Sachdeva.

In the future, Rupees are expected to be depreciated towards the RS 78.20 in the near future and RS 78.50 in a medium -term perspective.

For fresh cues, inflation data in the US will be a key indicator for the rupee movement.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top