Indian rupee to trade near record lows despite surging growth
The Indian rupee will trade near record lows against the dollar over the coming months, according to a Reuters poll of FX strategists who also said the Reserve Bank of India would likely intervene less in the coming year to support the currency. Thanks to the RBI's regular interventions in currency markets to arrest any sudden moves, the rupee has fared better than most of its Asian peers and was down just 0.6% for the year. Although the recent decline in U.S. Treasury yields and weaker-than-expected U.S. economic data took some of the strength out of the dollar, the rupee was not expec...