For Quick Alerts
For Daily Alerts

Rupee May Sink To 78/US Dollar On Fiscal Deficit Woes In 2019


As per a Karvy report, as private investments in a general case slow down in an election year, there is threat to the recovery in current and fiscal account deficits. It is estimated that rupee may depreciate to 78 per US dollar level in the current year and rise up to 69.50 level.

Rupee May Sink To 78/US Dollar On Fiscal Deficit Woes In 2019

The current account deficit during first half of the fiscal year 2018-19 stands at $34.94 billion, while the same for previous fiscal year 2017-18 came in at $48.72 billion. In the first half of FY 19, the balance of payments has been identified at $13.20 billion.

Further in accordance with the report, as there looms uncertainty in respect of assembly election outcome due in May this year, both foreign direct investors (FDIs) as well as foreign institutional investor (FIIs) will likely avoid the Indian markets.

Read more about: rupee dollar elections fdi fii
Story first published: Thursday, February 7, 2019, 14:54 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
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