Indian Rupee May Hit Record Low of 98 per Dollar by July
BofA Securities expects the Indian rupee to weaken toward 98 against the U.S. dollar as high energy costs and foreign capital outflows pressure domestic assets. While the central bank may avoid immediate rate hikes to protect growth, analysts anticipate potential tightening later this year.
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India's rupee could weaken to a record low of 98 against the United States dollar by July. The currency is currently Asia's worst performer this year as a Middle East energy crisis pressures domestic assets. For investors, the slump signals heightened inflation risks and potential growth headwinds for the world's fastest-growing major economy.
