The Indian rupee, which hit its lowest in 15 months against the U.S. dollar on Monday, is expected to depreciate even more, analysts said.
India entered 2018 with the resolve to turn around its economy, but signs of stress have shown up in one barometer: the currency.
The Indian rupee, which strengthened 6.75 percent against the U.S. dollar last year, has been on a general downtrend since the start of 2018. The currency on Monday hit its lowest in 15 months to trade at 67.13 rupees against a dollar — that's a 5.15 percent fall for the year so far.
And the currency is expected to weaken further, according to analysts including those from Australian bank ANZ and Dutch lender ING…
Source: cnbc.com