Looking at the events in the near-term horizon, the rupee might continue to slide down before stopping at 82-83 levels
The over-the-counter (OTC) and the non-deliverable forwards (NDF) markets are supposed to provide early warning signals about the rupee. Going by the Thursday’s trades on the OTC market and the NDF market, right after formal trading hours, the rupee’s currency value looks set to cross the psychological boundary of ₹80 to a dollar in the spot market any day now.
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