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BofA Merrill Lynch expects the rupee to reach about Rs 66 per dollar by year-end on a widening current account deficit and weak foreign portfolio inflows. It forecasts the Reserve Bank of India will allow depreciation while rebuilding reserves when the dollar falls.
The rupee was trading at Rs 64.78.
A weaker rupee would raise the rupee cost of dollar-priced feed imports into India, adding to domestic feed costs.
business-standard.comPress Trust of IndiaOct 31, 2017Not 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.
