scorecardresearchRupee faces risk of further decline to 82 vs USD in near term: Experts

Rupee faces risk of further decline to 82 vs USD in near term: Experts

Updated: 25 Jul 2022, 08:18 AM IST
TL;DR.
There is widespread speculation that the US Fed in its July 26-27 meeting may increase the interest rate by 50-75 basis points, which could result in flight of capital from emerging nations like India. With dollar outflow and elevated level of crude oil prices, the rupee would see further depreciation.
Indian rupee coins in a bowl arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

Indian rupee coins in a bowl arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg