Weak Growth To Pull Down Rupee, Coronavirus Fears To Impinge

The battered rupee will weaken further against the dollar over the coming year as a significant pickup in economic growth is unlikely, according to a Reuters poll of strategists who said the coronavirus outbreak was a downside risk.While Reserve Bank of India Governor Shaktikanta Das has said reviving growth was a ‘national objective’ in coordination with the government, the latest budget provided only minimal support to the slowing economy.That comes as a deadly coronavirus epidemic that is spreading globally has spooked investors and sent them rushing for cover into safe-haven assets and shunning emerging markets.

By nebm

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