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Rupee may fall beyond 71 a dollar by next year on rising oil: DBS Group

The rupee touched a record low at 69.0925 per dollar on Thursday

Rupee in free fall, trips 35 paise on panic dollar buying
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Anirban Nag | Bloomberg
The Indian rupee is set to weaken beyond 71 per dollar by June next year as the country’s current-account deficit widens on rising oil prices, said Taimur Baig, chief economist at DBS Group Holdings Ltd.

Rising US interest rates, a stronger dollar and fears of a trade war will spur flows into traditional safe-haven liquid currencies, Baig said in an interview. External funding pressures due to slowing capital flows will also keep the rupee under pressure, he added.

The rupee, the worst performing currency in Asia this year, touched a record low at 69.0925 per dollar on Thursday as gains in oil

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