For Quick Alerts
For Daily Alerts

Rupee To Scale Down To 75/$ By FY19 End: Fitch Ratings


The international credit ratings firm Fitch Ratings is seeing rupee to again scale down to 75 per dollar mark by the end of the current financial year. Also, on the sidelines, due to country's high borrowing cost as well as liquidity condition, the growth forecast for the FY19 has been brought down from 7.8% to 7.2%.

Rupee To Scale Down To 75/$ By FY19 End: Fitch Ratings

Also, the forecast for FY20 and FY 21 has been narrowed down to 7% and 7.1% respectively. In its December policy review meet, RBI for the FY18-19 has projected growth at 7.4% (7.2-7.3% in case of H2), with a slightly lower risk expectations.\

"The demand outlook as reported by firms polled in the Reserve Bank's IOS has improved in Q4. Based on an overall assessment, GDP growth for 2018-19 has been projected at 7.4 percent (7.2-7.3 per cent in H2) as in the October policy, and for H1:2019-20 at 7.5 percent, with risks somewhat to the downside," RBI MPC said.

"India's ratings balance a strong medium-term growth outlook and favourable external balances relative to peers with weak fiscal finances, a fragile financial sector and some lagging structural factors," Fitch had said in a statement.

Meanwhile, India's sovereign rating by Fitch Ratings is kept unchanged at the lowest investment grade of 'BBB-minus' with stable outlook.

Read more about: rupee gdp growth
Story first published: Thursday, December 6, 2018, 12:58 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more