ISLAMABAD – With global crude prices remaining elevated, the Indian rupeeis likely to be under pressure, and may touch the 76 levels against the UScurrency over the next three months, says a report.
The domestic currency has already crossed the 74 mark owing to continuedstrengthening of the dollar, lack of foreign flows and higher crude oilprices.
The unit lost over 15 percent since the beginning of the calendar year.
“Assuming global crude prices stay elevated (slightly above USD80/abarrel), we retain our bearish view on the rupee and see it plumbing to 76over the next three months,” says a weekend report by the Swiss brokerageUBS.