Rupee may weaken further: CIIhttps://indianexpress.com/article/news-archive/web/rupee-may-weaken-further-cii/

Rupee may weaken further: CII

The rupee would continue to remain volatile and might weaken further against the US dollar during the next quarter

The rupee would continue to remain volatile and might weaken further against the US dollar during the next quarter if downside risks accruing from high current account deficit and dwindling of FDI flows remain unaddressed,according to the ‘Survey on Variation of the Indian Rupee’,conducted by the Confederation of Indian Industry (CII).

The survey demonstrated a subdued outlook of the rupee with most respondents (around 56 per cent) expecting the rupee to trade above the Rs 59 to a dollar mark by end- eptember. Another 15 per cent expect the currency to remain in the vicinity of Rs.58-59 to a dollar.