8 months ago
Indian Rupee Faces Weakening Amid Venezuela Crisis
The Indian Rupee is expected to weaken in the coming week due to persistent pressure and the ongoing crisis in Venezuela.
Alok Singh, an expert from CSB Bank, predicts it could drop to between 90.50 and 91 against the dollar.
The Reserve Bank of India (RBI) has announced some supportive measures, but the next big action is not until January 13.
Until then, the Rupee might continue to get weaker.
Indian Rupee is expected to weaken to 90.50–91 against the dollar.
Alok Singh from CSB Bank notes persistent pressure on the Rupee.
RBI has announced supportive measures but major intervention is on January 13.
The weakening trend is influenced by the Venezuela crisis.
The Rupee has been trading with a clear weakening bias in recent sessions.
- Who
- Alok Singh, Head of Treasury at CSB Bank
- What
- Indian Rupee weakening
- Where
- India
- When
- Next major intervention on January 13
- Why
- Persistent pressure and Venezuela crisis
Key facts
- Currency
- Indian Rupee
- Expected Range
- 90.50–91 against the dollar
- Analyst
- Alok Singh, Head of Treasury at CSB Bank
- Supportive Measures
- Announced by RBI
- Next Major Intervention
- January 13
Quotes
Dilip Parmar
Research Analyst, HDFC Securities
“The Indian rupee has endured a persistent downward spiral, losing ground in nine out of the past ten trading sessions. This weakness is primarily fueled by ambiguity surrounding bilateral trade agreements between Washington and New Delhi, alongside a sluggish domestic stock market triggered by an exodus of foreign capital.”
theprint.in
“Furthermore, a surge in geopolitical uncertainty has bolstered the greenback’s appeal. This flight to safety followed the detention of Venezuelan leader Nicolás Maduro by American military personnel over the weekend.”
theprint.in
Donald Trump
President of the United States
“The US would 'run' the South American country and tap its vast oil reserves to sell to other nations.”
theprint.in
