Are There Worrying Signs For India in the FX Markets?

India entered 2018 with the resolve to turn around its economy, but signs of stress have shown up in one barometer: the currency.The Indian rupee, which strengthened 6.75 percent against the U.S. dollar last year, has been on a general downtrend since the start of 2018. The currency on Monday hit its lowest in 15 months to trade at 67.13 rupees against a dollar — that’s a 5.15 percent fall for the year so far.And the currency is expected to weaken further, according to analysts including those from Australian bank ANZ and Dutch lender ING.

Source: Indian economy: Rupee depreciates on higher oil prices, capital outflows – CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam