Rupee slide nearing its end, RBI likely to step in, say economists

The rupee could be hovering around the last leg of its fall, but depreciation pressure would continue a little longer, economists and currency experts have said.

The rupee should consolidate around the present level, but global sentiments could push it back to 72-72.5 a dollar level. By December though, rupee should be able to claw back to the 70 level as dollar is showing signs of weakness against major global currencies and oil supply issue is correcting on increased production from major oil producing nations.

But it will take time. At least in September, rupee is unlikely to strengthen unless