Rupee appreciation likely to be a short-term event: BS Poll

The Indian rupee continued to strengthen on Tuesday, rising to Rs 63.64 against the dollar, against Monday’s closing of Rs 63.81. However, most respondents in a Business Standard Poll, which included economists, bankers and forex dealers, believe this drop is temporary and may last till the third quarter (September-December), or Q3, of FY18. The currency is expected to depreciate to over Rs 64 by March, said two-thirds of the respondents. 

In a poll of 14 respondents, eight respondents said the rupee is likely to appreciate in the short-term to Rs 62-63.5, as there is uncertainty about the US Federal Reserve’s