Reported 5 months ago
Danske Bank A/S's chief analyst, Allan von Mehren, the top forecaster for the Indian rupee, predicts that the currency will hit a record low of 83.60 per dollar by December, going against the consensus forecast for the rupee's first gain in seven years. Mehren suggests that the Reserve Bank of India may allow gradual rupee depreciation to boost export competitiveness, as the currency has been resilient against the dollar's strength. Despite expectations of moderate weakness, Mehren anticipates RBI intervention to prevent excessive volatility.
Source: YAHOO