Reported 2 days ago
Traders are closely monitoring the Indian rupee after it dropped below 85 per dollar, speculating on the Reserve Bank of India's (RBI) strategy under the new governor, Sanjay Malhotra. With expectations of further depreciation amid global economic factors, forecasts suggest the rupee could reach 86 by the end of March. Amid a widening trade deficit and potential interventions from the RBI, analysts predict limited stability as import cover tightens.
Source: YAHOO