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market | IST

ANZ Research expects rupee to weaken further due to strong dollar, higher oil prices

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Rupee fell to a fresh record low on Thursday, hurt by weak global cues and mounting macro concerns. Irene Cheung, Fx Strategist at ANZ Research spoke to CNBC-TV18 about the fall in currency and shared his outlook. 

Rupee fell to a fresh record low on Thursday, hurt by weak global cues and mounting macro concerns. Irene Cheung, Fx Strategist at ANZ Research spoke to CNBC-TV18 about the fall in currency and shared his outlook.
"We have US treasury yield going up, the dollar is strong, oil prices heading higher and that would impact the current account deficit of the country," Cheung said.
“We continue to see, in this environment, risk for rupee to weaken further,” she added.
Talking about the selloff in equities, Cheung said, “I think at this point it’s easy to say that India market stands out because we have seen selling all over the place and we have seen selling not just in the bond market but in the stock market as well.”
 
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