The results of the latest Reuters poll of 40 foreign exchange strategists showed that the Indian Rupee is likely to see little respite over the coming year, in the wake of escalating US-Sino trade tensions and rising domestic political uncertainty.
Key Findings:
“The poll taken Oct 26-31 showed the rupee was expected to gain slightly to 72.5 per dollar in 12 months from about 73.95 on Wednesday.
But the predicted outlook for the currency will still leave it much weaker than where it started 2018 around 63.80.
The latest consensus was only slightly better compared to the previous month, and more than one-quarter of strategists with a year-ahead view predicting the currency to hit a new record low by then.
In a month, nearly one-fifth of respondents expect the currency to hit a new record low.
Most Asian currencies are forecast to gain against the dollar in a year, though the Chinese yuan is expected to have a bumpy ride in that period.”
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