ISLAMABAD - With global crude prices remaining elevated, the Indian rupee is likely to be under pressure, and may touch the 76 levels against the US currency over the next three months, says a report.
The domestic currency has already crossed the 74 mark owing to continued strengthening of the dollar, lack of foreign flows and higher crude oil prices.
The unit lost over 15 percent since the beginning of the calendar year.
"Assuming global crude prices stay elevated (slightly above USD80/a barrel), we retain our bearish view on the rupee and see it plumbing to 76 over the next three months," says a weekend report by the Swiss brokerage UBS.