India's Rupee Is Not Recovering Any Time Soon
albawaba -

India's battered rupee is expected to stay that way for a while, trading near recent record lows over the coming year even as the Reserve Bank of India is forecast to raise rates in December and once more in 2019, Reuters polling found.

The rupee has hit repeated record lows against the dollar this year in its worst run since the financial crisis. It is down over 16 per cent so far this year, tracking a deep selloff in emerging markets driven by a resurgent dollar and the ongoing US-China trade war.

On Tuesday, the partially-convertible Indian currency hit a fresh low of 74.395 per dollar. (Shutterstock)
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