homemarket Newscurrency News

Dollar index will continue depreciating next year: TD Securities

market | Dec 17, 2020 12:45 PM IST

Dollar index will continue depreciating next year: TD Securities

Mini

“We do think dollar will continue to depreciate,” said Mitul Kotecha, Senior Emerging Markets Strategist, TD Securities in an interview with CNBC-TV18.

The US dollar fell to two-year lows on Thursday as the hope of a fiscal stimulus grows in the Unites States. Crude prices also, in turn, are at their highest since March.

Recommended Articles

View All

“We do think dollar will continue to depreciate,” said Mitul Kotecha, Senior Emerging Markets Strategist, TD Securities in an interview with CNBC-TV18.
He believes dollar has been under severe pressure in the last several months. “It will fall below 90. We do think in the near-term there is a risk of a dollar bounce possibly into the first quarter. The sentiment is already very weak, the consensus is very negative,” he said.
“It is the fact that we have had a weaker dollar overall, stronger inflows into Asia and India has been one of the biggest beneficiaries. So it is one reason why the rupee has underperformed some of its peers and I think that will continue into next year,” he said.
“Reserve Bank of India (RBI) has appeared to be quite aggressive in its intervention in the last several months. It has been absorbing a lot of dollar inflows through intervention,” he added.
For more, watch the video
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng