Rupee can touch 87/$ by March, RBI and Trump govt willing
If the tariff war escalates and the Reserve Bank of India relaxes its intervention strategy in the foreign exchange market, the rupee could hit the 87 mark even before the end of this fiscal year, they cautioned.
«The RBI has demonstrated higher tolerance for a weaker INR in the last few weeks, as seen in the FX market,» said Anubhuti Sahay, head of India Economic Research at Standard Chartered Bank. «The INR has weakened by 1.6% since the end of November 2024, driven by a stronger USD. In similar previous episodes, such a pace of depreciation was seen over several months rather than just one month...,» she said.
The rupee depreciated 0.47% against the dollar during April-September, but the decline accelerated to 2.21% since October.
According to economists, consistent weakness in Asian forex markets and the pressure on the rupee have been due to the broad dollar strength amid US exceptionalism, tariff threats and falling emerging market rate differential with the US.
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