Will Indian Rupee continue slipping against Dollar

[K. Srinivas Reddy]

Dear Friends,

I am trying to understand where the Indian Rupee is moving against the US$. Looks like it will continue to move downwards for some more time. At least, some reports are saying so. I came across these notes from Economic Times and Forex Time.

http://metroindia.com/business/article/27/07/2015/usd-strengthens-against-rupee/9946

http://economictimes.indiatimes.com...13-against-us-dollar/articleshow/48290745.cms


Would appreciate of members can share any more such reports for others benefit and understanding.


Regards,

Srinivas

 

[tvtaddy]

I think that it will not loose more but we can think of 66 mark in near term.

 

[copypasteaee]

the currency of country will lose that has higher interest rates.

 

[Tavnaz]

I don't trade the INR,but i think 66 is wide open for business.

Regards
Tavnaz

 

[vsinha]

Hello,

The Indian currency has depreciated enough since last week on the back of slowing China's growth and expectations from FED
However, in the long-run INR shall rebound from its present level and would trade in between 63-65 levels in the weeks to come.
The RBI governor would not let out home currency depreciate much against the US counterpart, and would use the Foreign reserves to help INR restore its previous positions as stated today.

 

[amit.patel26]

yes & No.

lets start with "NO" 1st
Our fundamentals are strong, CAD account balance, Fx Reserves, our foreign liabilities are under check plus we are still one of the best RoI giving countries out there so that too helps. With RBI stating they wont let the INR slide further i think the 67 mark against the USD. Plus with oil and gold being cheap, its not hurting the INR that much as both commodities are dollar denominated.

Now the "Yes" Part.
The US Fed's interest rate hike will hit all currencies hard so that will make the Rupee slide, any further devaluation from China could impact INR too.

So i short, internal turbulence or volatility would not be a reason for INR sliding anymore. external factors will effect come what may. But even then RBI will and should do everything in its power to make it hover above the 67 mark.