Indian rupee (INR) could take a beating in 2019, courtesy of the uncertainty surrounding the national elections, scheduled in May and due to an expected economic slowdown, a Reuters poll found.
Key points (Source: Reuters)
INR has recovered nearly 6 percent from the record low of 74.485 reached in October last year. The relief, however, could be short-lived. More than 65 analysts polled between Jan. 8-8 expect the rupee to weaken again.
However, fewer than 20 percent of contributors in the latest poll expected the rupee to breach that all-time low in the next 12 months.
Two-thirds who gave 12-month forecast expect the INR to trade at more than 70 per dollar.
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