August 17, 2022

Market and Financial News

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Currency Woes: Rupee likely to weaken to Rs 79 vs USD in 2 months

1 min read

Dollar buying by oil companies and foreign portfolio investors (FPIs) who have been sellers in equities were the major reasons for the persistent weakness in the Rupee.Brent Oil has been consistently above $105 per barrel though it has fallen from a peak of $125 recently. Oil forms 83 per cent of our imports and if it remains higher our current account and trade account remain higher.

2022-06-25 00:12:14

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