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India s central bank intervenes to slow down rupee decline

Rupee, Asia s Best Performer This Year, May Hit One-Year Low: Analysts

The rupee outperformed Chinese yuan, and tech-reliant currencies of Taiwan dollar and Korean won The rupee, Asia s best-performing currency this year, is going to slide right back to levels last seen in the depths of the pandemic meltdown, according to Parul Mittal Sinha at Standard Chartered Plc. The currency will drop toward 76.5 to a dollar about 4.4 per cent weaker than current levels by the end of the year, said the head of macro trading, India and South Asia financial markets. That is the most bearish forecast seen among analysts surveyed by Bloomberg, and runs counter to expectations for it to stay strong.

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