Currency may reclaim some ground this week following govt decisions, say experts
Saikat Das & Sanam Mirchandani
Mumbai: The rupee may retrace up to 3% of its lost ground by the end of the calendar year, helped by the five-pronged strategy that the government announced to prop up the free-falling local currency, market participants expect.
A majority of the respondents in an ET snap poll predicted the local unit to see some signs of gains this week following the announcement. But that could be short-lived, as they expect the rupee to swing both sides in a wide range through the year amid continuing global uncertainties, and even hit a new low.
Ameltdown in the Turkish lira and Argentine peso is clouding