SME Times News Bureau | 18 Sep, 2018
Continuing its downward journey, the
Indian Rupee on Tuesday settled at a fresh lifetime low of 72.97 against the US
dollar, down 46 paise against the previous close of 72.51 against dollar.
On a year-to-date basis, the
currency has so far plunged over 13.50 per cent.
However, according to IMF, the
currency has 'effectively' depreciated only 6-7 per cent this year after
adjusting it to inflation.
Experts view that rupee is
"tracking closer to its fair value" and the scope for further rapid
depreciation appears unlikely.
"Currently, the rupee is
tracking closer to its fair value as per our fair value computation. From here
on, the scope for rapid depreciation appears unlikely," Yes Bank's Group
President and Chief Economist Shubhada Rao said recently.
She, however, said policy
interventions are required to anchor the "negative sentiments".