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Rupee could slip to 75 against dollar by end-2019 on widening CAD: Fitch

Reuters/ 06 Dec 18 | 11:43 AM

Fitch Ratings said on Thursday it expects the Indian currency to weaken to 75 rupees against the U.S. dollar by the end of next year on a widening current account deficit and tighter global financing conditions.

Despite a few recent advances, the rupee is on track for its worst yearly performance in five years in 2018 and a Reuters poll on Wednesday had forecast it to weaken further as uncertainty builds, heading into national elections due by May.

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The currency fell to a two-week low of 71.04 against the dollar in early trade on Thursday, mimicking most Asian currencies.

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