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Rupee likely to weaken more on rate-cut bets as RBI loosens grip
Financial Express Hyderabad
|February 04, 2025
THE RUPEE IS expected to weaken further against the dollar, after hitting a new low on Monday, as traders bet on interest-rate cuts amid signs the Reserve Bank of India (RBI) is loosening its grip on the currency under its new chief.
The RBI will reduce the repurchase rate by 25 basis points on Friday, the first easing since the pandemic, a Bloomberg survey of economists showed. That will add to pressure on the currency after US tariffs rattled Asian markets.
The rupee may decline to 88.70 per dollar by the year-end, according to Australia and New Zealand Banking Group. Emkay Global Financial Services is forecasting a fall to 89.50 by December. It fell as much as 0.8% to 87.29 after markets opened on Monday after the Budget on Saturday.
This story is from the February 04, 2025 edition of Financial Express Hyderabad.
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