1 min read.Updated: 25 Dec 2018, 12:32 PM ISTAparna Iyer
The average forecasts of top ten analysts puts rupee at 71.45 to a dollar by March and at 71 by the year-end
Asia’s worst performing currency in 2018 is expected to redeem itself next year, considering that global factors may be more conducive to a stronger Indian rupee. Indeed, there are already signs of this in recent weeks. The biggest positive is the drop in oil prices. Thanks to falling crude prices, India’s import bill need not hurt its economy and any shortfall can be more than handled by the Reserve Bank of India’s (RBI) forex reserve stockpile. Besides, the country’s current account deficit is expected to be slightly lower at 2.5% of gross domestic product (GDP) for FY19, as against earlier expectations of 2.9% of GDP.
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