Rupee outlook: Indian currency may track US dollar index
If that’s not enough, we have other things to worry about. Surging global oil prices have already derailed “inflation” expectations in many import-dependent countries. The ongoing OPEC meeting can throw a pointer towards future oil supply, thus providing direction of the global oil price itself. Most of the experts are now hoping to tide over the rest of CY 2018 in a $70-80/ barrel of Brent Crude.
The dollar-rupee pair which was quoting around 63.2450 around the beginning of CY2018 touched a high of 68.46 in the month of May 2018. Image source: Reuters