The Indian rupee will not regain ground lost against the dollar in the coming ye...
BENGALURU - The Indian rupee will not regain ground lost against the dollar in the coming year, according to strategists polled by Reuters, who believe a recent rollback of a surcharge on foreign investments will have no impact on the currency.
That pushed international investors to turn net sellers after being net buyers until then from February. While the median forecast showed the rupee will not retest Tuesday’s low, the 12-month view was the most pessimistic in Reuters polls since December. That weaker rupee view lines up with a separate Reuters positioning poll which showed short bets for the currency rose to the highest since November 2018 on growing concerns about the U.S.-China trade war.
Slowing growth concerns pushed central banks across a group of 37 developing economies to deliver a net fourteen interest rate cuts last month - the largest since the financial crisis.
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