Cur­rency may re­claim some ground this week fol­low­ing govt de­ci­sions, say ex­perts

The Economic Times - - Front Page -

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

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