Never miss a great news story! Get instant notifications from Economic Times Allow Not now. ET Bureau The rupee has depreciated sharply in the past week, being one of the worst performing Asian currencies.
It weakened and fell 1. While RBI has said that it will take steps to check volatility in the foreign exchange market, experts are divided over the depreciating currency's outlook.
We bring you the viewpoints of seven renowned analysts: Going forward, it appears that rupee's losses will extend. In the absence of any major news from the domestic markets, international forces will likely drive the path of the rupee. The main reason causing the rupee to fall is the immense strength of the Dollar Index, which has touched its three-year high level of The Federal Reserve is talking about tapering asset purchases at a time when European officials are considering more aggressive monetary easing measures such as negative deposit rates.
He attributed recession in the Euro zone, bleak Fundamental outlook, balance of payments and technical aspects as the other reasons driving the rupee down. Choose your reason below and click on the Report button. This will alert our moderators to take action. Get instant notifications from Economic Times Allow Not now You can switch off notifications anytime using browser settings.
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