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Deutsche Bank and Mizuho Bank forecast the rupee could weaken to 66 per dollar in 2018. The forecasts cite a widening trade deficit, capital outflows and the $2bn fraud at Punjab National Bank.
Global funds had pulled $583 million from Indian stocks since the scandal surfaced.
Bank forecasts of further rupee weakness signal higher dollar-priced import costs for Indian feed buyers. The trade gap and oil-driven deficit add to pressure on the currency.
gulf-times.comBloomberg/MumbaiFeb 27, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
