Little prospect is seen for short-term relief for plunging rupee

08/11/2013 | Economic Times (India), The

Prospects for any short-term gain in India's rupee are considered poor, with key fundamentals including the nation's current-account gap weighing against the currency, according to a poll of analysts. "India's almost insatiable demand for oil and gold are the main reasons for structural weakness in the current account deficit. The rupee could enjoy some respite if the U.S. dollar underperforms and/or the CAD narrows," observed Sook Mei Leong, regional head of global market research at BTMU in Singapore.

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Economic Times (India), The

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