updated: Apr 07 2021, 20:06 ist
After logging its biggest single-day fall in nearly two years on Wednesday, the Indian rupee is expected to depreciate further as Reserve Bank s plan to purchase Rs 1 lakh crore-worth government bonds in the current quarter spooked sentiments.
Analysts said that Wednesday s loss wherein the rupee tumbled 105 paise to end the day at 74.47 against the US dollar has turned the rupee into Asia s worst performing currency so far this month.
Going forward, the domestic currency is expected to lose further ground and depreciate, they opined.
Some analysts said Reserve Bank s plan to buy government bonds worth Rs 1 lakh crore from the secondary market during the three months ending June 2021 is considered as a quantitative easing. The purchase of bonds under the government securities acquisition programme or G-SAP could go up to Rs 3 lakh crore in the current fiscal.
MUMBAI: After logging its biggest single-day fall in nearly two years on Wednesday, the Indian rupee is expected to depreciate further as Reserve Bank s plan to purchase Rs 1 lakh crore-worth government bonds in the current quarter spooked sentiments.
Analysts said that Wednesday s loss wherein the rupee tumbled 105 paise to end the day at 74.47 against the US dollar has turned the rupee into Asia s worst performing currency so far this month.
Going forward, the domestic currency is expected to lose further ground and depreciate, they opined.
Some analysts said Reserve Bank s plan to buy government bonds worth Rs 1 lakh crore from the secondary market during the three months ending June 2021 is considered as a quantitative easing. The purchase of bonds under the government securities acquisition programme or G-SAP could go up to Rs 3 lakh crore in the current fiscal.